Record-breaking year for Futures in 10th year
Futures Housing Group smashed its financial and development records to mark its 10th anniversary – despite a year of radical change.
The Group’s new annual report, A Decade of Developing, shows a record turnover of £46m in 2016/17 with an operating surplus of £15m.
Futures, which manages almost 9,200 homes throughout the Midlands, also invested £34.5m in development and delivered a record-breaking 171 new homes in the last financial year.
Its award-winning approach to income management also saw sector-leading rent arrears of just 0.85%.
The Group also helped house 468 people while helping customers save or obtain a total of £1.2m using our money advice service.
In addition, Futures helped 35 people find paid employment, 44 people into volunteering and many more into training through its Futures Gateway employability programme.
The Group also saved £1.5m from an organisational restructure and achieved other savings through a radical and unique transformation process which is improving how Futures does business.
Tony Taylor, Group Board chairman, said: “We’re really pleased with the progress we’re making as a Group, especially as we mark our 10th birthday.
“We’ve gone through a lot of change as a sector and as an organisation in the last 12 months, but our teams have adapted well and shown incredible determination to continue helping our customers.”
Lindsey Williams, Group Chief Executive, said: “Our transformation process is helping us embrace innovative approaches like never before, we’re developing more new homes than ever before and making it easier than ever for customers to do what they need to with us.
“2016/17 is just the beginning of, what I feel is, a very exciting period of growth for Futures.”
The Group also owns Futures Greenscape, a grounds maintenance social enterprise which helps local people into work and posted a £93,000 surplus last year.
It also owns Limehouse Developments, a commercial development company, which also posted a £100,000 profit in its first year of operating.
Futures also co-owns, with Nottingham Community Housing Association, Access Training, a further education provider which helps more than 1,000 people get the training and skills they need for the jobs they want.
View the new annual report and Value for Money statement here.