Investors (S&P Rating: A/Negative)
Incommunities has enjoyed positive relationships with its funders since transfer in 2003. In 2018/19 Incommunities committed to restructure the Group’s facilities and secure the funding requirements to deliver the “Improving Lives to 2040” strategic objective.
The refinancing allowed Incommunities to:
- Reduce the overall cost of funding.
- Increase the average maturity of the debt by refinancing some of the existing debt and providing additional facilities.
- Diversify the sources of funding.
- Provide c.£100m of unused facilities (including a £50m retained bond).
This resulted in a more cost effective and diverse funding portfolio.
Performance Highlights – 3-Year Summary
|
Statement of Comprehensive Income (£m) |
2022-23 |
2021-22 |
2020-21* |
|
Turnover |
104.4 |
102.1 |
99.9 |
|
Operating Surplus |
12.2 |
15.2 |
22.0 |
|
Surplus for the year |
0.9 |
3.5 |
10.3 |
*Restated
|
Number of properties |
2022-23 |
2021-22 |
2020-21 |
|
No. of properties |
22,672 |
22,708 |
22,651 |
|
New homes built |
84 |
126 |
115 |
Investor Updates
S&P Ratings
View our Annual Report and Financial Statements
Bond Prospectus
Fixed Income Investor Presentation December 2020
Investor Contacts
As a valued investor, your primary contacts can be found below:
David Konu, Interim Director of Finance david.konu@incommunities.co.uk
Current regulatory judgement: Incommunities Limited (17 January 2024)