04 June 2025
Summary: Continued strong performance and delivery for our residents
We have today published our preliminary full-year results for the year to end March 2025.
Highlights include:
- Total revenue increased to £454m (FY24: £423m)
- Underlying operating surplus £148m (FY24: £127m)
- Capitalised improvement works to our estate £47.5m (FY24: £33.0m)
- Residents are £3.4m better off due to our money advice
- 544 new homes built to help alleviate the housing crisis
As a not-for-profit housing association our total surplus is re-invested to maintain existing homes and build more new homes.
2024/25’s continued robust financial performance gives us the underlying strength to deliver essential services to residents whilst continuing to meet the multiple demands placed upon all housing associations to maintain and improve existing homes, deliver on safety and customer service standards while still building new affordable homes.
Ensuring consistent delivery of a positive and caring customer experience remains a key focus area for us. Our new Customer Experience Strategic Plan was launched in 2024 and is designed to create a culture where every MTVH team member is responsible and accountable to residents. This Plan which is now being implemented includes improved customer data, mapping all customer touchpoints and a home visits programme, so that we know our customers better.
In addition to supporting residents, MTVH is continuing to make an invaluable contribution to tackling the housing crisis by helping to build the new homes the nation so desperately needs. We completed 544 homes over of the year and our five-year pipeline contains plans to build 4,970 new homes over this period.
We are ready to play our part to help meet the Government’s target to build 1.5m homes by 2029. We are continuing to engage with them to ensure the correct measures and resources are in place to ensure the sector has the capacity to help to deliver on this commitment.
On publication of the End of Year financial results, MTVH’s Chief Executive, Mel Barrett, said: “I am pleased to announce another set of strong financial results for MTVH which underlines the resilience of our model and the performance of the team. This underlying financial strength allows us to meet the multiple demands of maintaining and improving existing homes, funding building safety remediation, delivering quality customer service while still developing the new affordable homes the country so desperately needs.”