Annual Financial Report 31 March 2026

Saxon Weald Capital PLC

10 August 2026

 

Saxon Weald Group (incl. Saxon Weald Capital Plc) - Audited Financial Statements for the year ended 31 March 2026

The full group annual report and financial statements are now available at https://www.saxonweald.com/storage/downloads/financial_statements-1786350946.pdf

Saxon Weald Group today announces the publication of its consolidated financial statements for the year ended 31 March 2026. Highlights for the period ending 31 March 2026 are:

·    Saxon Weald owns and manages 6,979 homes;

·    Turnover for the period was £59.0m (2025: £58.6m);

·    Social housing lettings turnover contributed 95% of total turnover (2025: 91%);

·    Operating surplus (including asset sales) for the period was £17.8m (2025: £18.8m);

·    Operating margin on social housing lettings was 24% (2025: 22%);

·    Overall operating margin (excluding asset sales) was 26% (2025: 24%);

·    EBITDA-MRI interest cover (excluding disposals) was 97.7% (2025: 86.1%);

·    The surplus after tax and pensions for the period was £4.6m (2025: surplus £5.6m);

·    62 new homes were completed during the year (2025: 67);

·    Gearing was 49.0% (2025: 49.1%); and

·    Moody's credit rating of A3 (stable).

Commenting on the results, Rachel McGoff, Executive Director - Finance & Governance, said:

Saxon Weald has had a year of change with Corinna Bishopp, our new Chief Executive, starting in May and the launch of our new Corporate Plan, "Delivering Better Together", in March 2026.

Saxon Weald's core housing operations continue to perform strongly, with interest cover (as per the Regulator of Social Housing's Value for Money Metric) improving year on year from 86.1% to 97.1%, a result of the statutory rent increase and income from newly developed properties exceeding inflationary increases in operating costs. Four sales of the first tranche of shared ownership properties generated a margin of 22.5%.

During the year, a significant focus has been on improving our understanding of our homes, to ensure we continue to provide high quality and safe homes now and into the future. At the time of publication, we have up to date stock condition data on 76.2% of our homes, and we are continuing with our programme of surveys to increase this. We invested £20.5m across capital and revenue in our existing homes in the year, and our stock condition data is enabling us to plan our programme over the coming years.

We also continued to develop new homes, investing £18.5m and completing 62 new homes during the year.

The safety of our customers remains our utmost priority. Following the identification of fire safety actions that required immediate remediation in the prior year, we have focussed on further improving our processes to ensure property safety issues are identified and rectified quickly.

Our operational priorities have included ensuring that our repairs service continues to perform well, and we spent £7.1m on responsive repairs during the year. We were pleased to report that the proportion of our residents who were satisfied their home was well maintained was 81.1% which contributed to overall customer satisfaction 84.1%, increased from the previous year's figure of 81.9%. We continue to focus on how we can further improve the quality and efficiency of our services.

The cost of living remains a challenge for our customers, and we have continued to support them, maintaining current tenant arrears at 2.2%.

A key element of our new Corporate Plan is ensuring we have the technology, tools and data to deliver our ambitions for the service we offer our customers. We began our digital transformation programme during the year with the rollout of new customer relationship management and telephony systems.

We have a strong balance sheet and liquidity available to meet our forecast cash outflow for the next 42 months.

For further information, please contact Rachel McGoff, Executive Director - Finance & Governance.

Email: [e-mail]

www.saxonweald.com/investor-relations

All information has been extracted from the 2025/26 financial statements.

 

END