16 Nov 2022 14:40
Following an In-depth Assessment (IDA) of our governance and viability, Longhurst Group has been graded as G1/V2 by the Regulator of Social Housing (the Regulator).
Rob Griffiths, the Group's Deputy CEO and Chief Financial Officer commented:
"The housing sector, like many others, is clearly facing a set of complex external circumstances. We're pleased to retain our G1 status for governance while the V2 assessment is something we'd anticipated based on external economic factors and our ambitious development programme.
"It's clear that our change in rating for financial viability is due to the exceptional economic climate we're operating in, but we have strong treasury management arrangements in place to manage these risks.
"We're confident that our robust financial processes and procedures, allied with strong governance, will help us successfully navigate these challenging times while retaining our commitment to provide the best possible homes and services to our customers."
For further information please contact:
Rob Griffiths
CFO and Deputy CEO
0300 123 1745
robert.griffiths@longhurst-group.org.uk
Libra (long) 38 (38LT)