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06 | 10 | 14

A2Dominion delivers record surplus for reinvestment

A2Dominion, one of the country’s leading housing groups, has delivered a record surplus of over £38m.
The Group, which manages over 34,000 properties, developed 695 homes for sale and rent across London and the South East in 2013/14.

The record £38.1m surplus, an increase of £10.1m from the previous year, was achieved through higher income from private sales and lower operating costs, leading to a 28.6% operating margin compared to 21.2% in 2012/13.

The Group’s turnover also rose to £272.1m whilst its sales margin increased from 14.5% to 23.7%.

Darrell Mercer, A2Dominion Chief Executive, said: “The Group has increased its activity in the private sales market following the successful launch of our FABRICA by A2Dominion brand to generate surpluses to reinvest in building more new homes . Alongside this, a continued focus on value for money in all areas has generated on-going cost efficiencies.

“We reinvest 80% of cash surpluses into providing new homes and the balance supports investment in existing homes, care and support activities and help for local communities. “With over 4,600 homes in the development pipeline, we continue to grow our commercial activities to provide surpluses that will ensure we continue providing much-needed new homes, both affordable and private.”

Other highlights from 2013/14 included:

  • £74.8m income from sales of 365 new homes
  • £29.4m invested into upgrades for existing properties
  • £150m funds raised via a first-ever retail bond issue in October 2013
  • A Sunday Times Top 100 organisation for the second year in a row
  • 49 work placements and apprenticeships offered through A2Dominion and its partners
  • Over £60,000 donated to charities through the Group’s Corporate Social Responsibility programme