Trading Statement

Summary by AI ^BETAClose X

Boston Mayflower Finance PLC, a subsidiary of Lincolnshire Housing Partnership, reported unaudited results for the nine months ending December 31, 2025, showing a turnover of £51.8m against a budget of £52.8m, but an operating surplus of £14.3m exceeding the £13.5m budget, resulting in a total comprehensive income of £9.4m, also favourable to the £8.3m budget. The company's operating margin stood at 27.7%, surpassing the budgeted 25.6%, attributed to reduced staff, insurance, and service charge costs. The year-end forecast projects a surplus of £10.7m, £2.0m ahead of the £8.7m budget, with gearing at 36%, EBITDA interest cover at 441%, and available liquidity at £96.8m, indicating a strong financial position.

Disclaimer*

Boston Mayflower Finance PLC

04 February 2026

Boston Mayflower Finance PLC

February 2026

Boston Mayflower Finance PLC, a wholly owned subsidiary of Lincolnshire Housing Partnership (a registered Housing Association), announces the trading update for LHP for the 9 months to 31^st December 2025.

The figures presented are unaudited and for information purposes only.

With excellent liquidity and strong operating margins, LHP remain in a good position to continue to meet the needs of our customers by investing in new and existing homes and our strategic priorities (Really Good Repairs, Cracking Data & Real Customer Influence).

Statement of Comprehensive Income	31 Dec 2025	31 Dec 2025
	Actual	Budget
Turnover	£51.8m	£52.8m
Operating Surplus	£14.3m	£13.5m
Total Comprehensive Income	£9.4m	£8.3m
Operating Margin	27.7%	25.6%

As at P9, both actual and full year forecast metrics are favourable to budget, mainly due to reduced staff costs, insurance premiums and service charge costs.

The Q3 forecast year end position is a surplus of £10.7m, which is £2.0m favourable to budget of £8.7m, and significantly within covenant levels.

Key Metrics	31 Dec 2025
	Actual
Gearing (Net Debt/Housing assets at historic cost)	36%
EBITDA Interest Cover (EBITDA / Net Interest payable)	441%
Available Liquidity	£96.8m

There have been no changes to the Group structure during the period.

For further information or comments on this announcement, please contact:

communications@lincolnshirehp.com

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