Orbit Capital PLC Annual Financial Report (0192A)
24 Septembre 2020 - 11:50AM
UK Regulatory
TIDM61DS
RNS Number : 0192A
Orbit Capital PLC
24 September 2020
Publication of Financial Statements
Orbit Capital PLC
24(th) September 2020
Orbit Group, a leader in building thriving communities is
pleased to announce the publication of its Annual Report for the
twelve months to 31 March 2020.
Financial Highlights
-- Turnover improved to GBP323 million (FY2019: GBP316 million)
-- Operating Surplus increased by 12% to GBP130 million (FY2019: GBP116 million)
-- Operating Margin ahead at 40% (FY2019: 36.8%) - both the
operating surplus and operating margin were in part due to strong
cost control measures.
-- Investment in stock up to GBP82.2 million (FY2019: GBP81 million)
-- Investment in the community of GBP5.7 million (FY2019: GBP4.7
million) - directly benefitting our customers and enhancing the
environment where they live through Orbit's Community Investment
programme. The total included GBP3.3m of Orbit funding which
leveraged a further GBP2.4m of inward investment
-- Investment in digital of GBP8.4 million (FY2019: GBP3.4
million) - the Orbit Apollo programme is an investment in IT
designed to transform our service model to meet the needs of our
diverse customer base through digital channels.
Operational Highlights
-- 1,520 new homes built, a 20% increase on the prior year
(FY2019: 1,266 new homes) - over 78% of which are affordable
homes
-- The Group portfolio has grown to 44,753 properties (FY2019: 43,470)
-- Customer satisfaction improved to 87% (FY2019: 86%) - the
result of a constant evaluation of performance against our promise
of excellence and our determination to provide great customer
service. Further strides have been made this year to embrace the
latest technology, giving more customers the ability to access our
services digitally
-- Top 50 in The Sunday Times 100 Best Companies to Work For
list (Not-for-Profit) - recognition of the Group's determination to
make Orbit an employer of choice and a great place to work
-- Two RoSPA Gold Awards - we partner with RoSPA on its "Safer
by design: framework to reduce serious accidental injury in new
build homes". Safer by design is closely aligned to our own design
standards and we are RoSPA's lead housing association partner on
this project
-- Launch of Orbit 25 - the development of our new strategy will
continue to deliver on our vision to lead in building thriving
communities and build on Orbit's four strategic pillars of Service,
Property, Profit and People
Commenting on the results Jonathan Wallbank, Group Finance
Director, said:
"The group has performed well throughout a sustained period of
economic uncertainty and successfully delivered a strong set of
results.
"As we respond to the challenges created by the global
coronavirus pandemic, our financial strength and resilience will
help us maintain stability and continue to focus on our core
objectives.
"We continue to deliver more affordable homes, improve the
quality of our services and invest more in the local communities
where we work.
"I am extremely proud and thankful to my colleagues across the
organisation who have delivered these results and for everything
they continue to do to support our customers."
A copy of the all Group company accounts are available in our
investor hub
https://www.orbitgroup.org.uk/about-us/partner-with-us/investor-hub/
For further information please contact:
Charley Gibbons, Director of Strategy and Brand
Charley.gibbons@orbit.org.uk 07554 458962
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END
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