11 November 2024
Paragon Asra Housing Limited (‘PA’) trading update and unaudited financial results for the period ended 30 September 2024
PA, the parent company of Paragon Treasury Plc and a Registered Provider owning and managing over 24,000 homes in the East Midlands, London and Surrey, announces its trading highlights and unaudited summary financial results for the first half of the 2024/25 financial year.
20 September 2024
2023/24 financial statements and supplementary information for investors Paragon Treasury Plc’s parent company
Paragon Asra Housing Limited (‘PA’), announces the release of its audited financial statements for the financial year ended 31 March 2024.
The financial year saw a return to more normal trading conditions following the economic shocks of the previous year. Accordingly, our core financial performance (excluding additional costs relating to impairment and fire safety remediation projects) strengthened, with the underlying operating margin improving to 26%. The additional capacity enabled us to bring forward £1.5m of cyclical decorations expenditure previously planned for 2024/25, to accelerate improvement work for residents.
Financial Statements 2023-2024
24 May 2024
Trading update and unaudited accounts
Paragon Asra Housing Limited (‘PA Housing’) announces its trading highlights and unaudited summary financial results for the 2023/24 financial year.
Previous updates and presentations for investors
6 November 2023
Presentation to investors
PA Housing delivered a Fixed Income Investor Update presentation to investors in November. The presentation pack can be accessed via the button below. Please contact our Executive Director - Resources, Simon Hatchman if you have any queries about the presentation.
2 November 2023
Trading update and unaudited accounts
Paragon Asra Housing Limited (‘PA’) trading update and unaudited financial results for the period ended 30 September 2023.
PA, the parent company of Paragon Treasury Plc and a Registered Provider owning and managing over 24,000 homes in the East Midlands, London and Surrey, announces its trading highlights and unaudited summary financial results for the first half of the 2023/24 financial year.
27 September 2023
2022/23 financial statements and supplementary information for investors
Paragon Treasury Plc’s parent company, Paragon Asra Housing Limited (‘PA’), announces the release of its audited financial statements for the financial year ended 31 March 2023.
The financial year saw growing economic impacts, with rising inflation and interest rates, and uncertainty surrounding the housing market. Key contractors and suppliers also faced challenges, and in some cases sought to pass on higher costs. In particular, we experienced significant cost increases on our energy supply contracts arising from the conflict in Ukraine and the disruption to global energy supplies. For our residents, the cost of living crisis was a significant factor, introducing heightened risk around rent collection. We have expanded our support offering to residents as we work together through the tough economic climate.
Our Financial Statements 2022-2023
2 June 2023
Trading update and unaudited accounts
PA Housing, the parent company of Paragon Treasury Plc and a Registered Provider owning and managing 24,000 homes in the East Midlands, London and Surrey, announces its trading highlights and unaudited summary financial results for the 2022/23 financial year.
23 February 2023
Chief Executive appointed
Paragon Treasury Plc's parent company, Paragon Asra Housing Limited (‘PA Housing’), makes the following announcement.
Further to our previous announcement on 16 December 2022, the Board of PA Housing is pleased to confirm that Michael McDonagh has been appointed Chief Executive Officer permanently. Michael has extensive experience of the social housing sector having been an advisor to some of the biggest housing associations in England with over 20 years at KPMG, latterly as Chief Operating Officer of KPMG. He is also Non-Executive Deputy Chair of Housing 21.
PA Housing and the wider social housing sector face a number of important challenges which the Board is determined to address. Michael’s permanent appointment ensures that this work can continue with no interruption to business leadership.
Please contact our Resources Director Simon Hatchman for further information.
[email protected]
07720 087108
7 February 2023
Update to investors in relation to damp and mould
Paragon Treasury Plc’s parent company, Paragon Asra Housing Limited (‘PA’), confirms its status and approach in respect of damp and mould.
16 December 2022
Interim CEO appointed
Paragon Treasury Plc's parent company, Paragon Asra Housing Limited (‘PA Housing’), makes the following announcement.
Recognising the short term needs of both the sector and PA Housing coupled with the incumbent CEO's retirement early next year, the Board has taken the decision to augment short term executive resource and capability with the addition of Michael McDonagh as Interim CEO to aid the transition.
Michael spent most of his career with KPMG where he was the UK Chief Operating Officer and led a successful public sector business. He has worked extensively across the Social Housing Sector. He is a tremendous supporter of social housing and brings this, along with a strong commercial focus, to PA Housing.
Please contact our Resources Director Simon Hatchman for further information.
[email protected]
07720 087108
9 December 2022
Dilip Kavi to retire
Dilip Kavi the CEO of PA Housing has announced he is to retire at the end of March 2023.
Dilip has been employed as Chief Executive from the inception of PA Housing in 2017, leading a team of operational, development, finance and governance directorates for a multiregional housing association, employing over 700 staff, with a turnover of ca. £200m, a new build programme of up to 600 homes per annum and 23,000 home estate with a market value of ca. £1.5bn. Previously Dilip was Chief Executive of Paragon from 2011.
Dilip said “I have enjoyed my time with PA Housing and its predecessor Paragon but feel now is the right time to pass the baton to someone who can see PA through its next phase of evolution. I will miss the people and am proud of what we have achieved”
Suki Kalirai the Chair of the Board said “On behalf of all stakeholders I wish to thank Dilip for his years of dedicated service and commitment to PA Housing and also to the social housing sector as a whole. We will send him off with our gratitude and best wishes for a relaxing and successful future”
The Board will now commence the search for a new CEO.
9 November 2022
Presentation to investors
PA Housing delivered a Fixed Income Investor Update presentation to investors on 9 November 2022. The presentation pack can be accessed via the button below. Please contact our Executive Director - Resources, Simon Hatchman if you have any queries about the presentation.
8 November 2022
Trading update and unaudited accounts
Trading update and unaudited financial results for the period ended 30 September 2022.
30 September 2022
2021/22 financial statements and supplementary information for investors
Paragon Treasury Plc’s parent company, Paragon Asra Housing Limited (‘PA’), announces the release of its audited financial statements for the financial year ended 31 March 2022.
The financial year saw continuing impacts from the pandemic, including as a result of our efforts to bounce back from government restrictions and catch up on work which had been delayed. Then in the latter part of the year, emerging high inflation and related cost of living pressures had an increasing influence on our service delivery. Our financial planning remains robust and agile in response to these challenges.
9 June 2022
Trading update
Paragon Asra Housing Limited (“PA”) is the parent company of Paragon Treasury Plc and a Registered Provider owning and managing over 23,000 homes in the East Midlands, London and Surrey.
A PA property in London has been highlighted in media coverage on ITV News (8 June 2022). PA is aware of the repair issues in this case and is working with the resident to resolve them as quickly as possible. We have apologised to our resident.
This is a rare incident, but it should not have happened. PA Housing is investigating this case to learn lessons and ensure these are applied to avoid a repeat.
All investor enquiries in relation to this update should be directed to:
Simon Hatchman
Executive Director - Resources
07720 087108
[email protected]
6 May 2022
Trading update and unaudited accounts
Trading update and unaudited financial results for the period ended 31 March 2022.
31 March 2022
Paragon Asra Housing Limited ('PA') In Depth Assessment outcome
PA is the parent company of Paragon Treasury Plc and a Registered Provider owning and managing over 23,000 homes in the East Midlands, London and Surrey.
PA confirms that following an In Depth Assessment (‘IDA’) conducted by the Regulator of Social Housing, PA is graded as V2 for financial viability and G1 for Governance (previously V1, G1). The financial viability regrade reflects the following factors, working in combination:
- PA’s ongoing commitment to build 6,000 new social tenure homes between 2020 and 2030
- Short-term additional expenditure on fire safety remediation, in the main relating to a small number of blocks where major remediation works have been identified. PA is working to mitigate this cost through government grant applications and liaison with the original building contractors
PA welcomes the IDA process and fully accepts the results, with feedback from the Regulator to be embedded within working practices going forward.
All enquiries in relation to this trading update should be directed to:
Simon Hatchman
Executive Director - Resources
07720 087108
[email protected]
10 February 2022
Presentation to investors
PA Housing delivered a no-deal general business update presentation to investors on 10 February 2022. The presentation pack can be accessed via the button below. Please contact our Executive Director - Resources, Simon Hatchman if you have any queries about the presentation.
04 November 2021
Trading update and unaudited accounts
Trading update and unaudited financial results for the period ended 30 September 2021.
10 September 2021
Paragon Asra Housing Limited (‘PA Housing’) annual ESG report for financial year ended 31 March 2021
PA Housing, the parent company of Paragon Treasury Plc and a Registered Provider owning and managing 23,000 homes in the East Midlands, London and Surrey, confirms the publication of its inaugural Environmental, Social and Governance (‘ESG’) outturn report.
The report covers activities in the financial year ended 31 March 2021 and it incorporates the ESG metrics included in the sector-wide Sustainability Reporting Standard for Social Housing, of which PA Housing is one of a number of housing association early adopters. The report also provides a general update on PA Housing’s ESG activities during the year.
13 August 2021
2020/21 financial statements and supplementary information for investors
Paragon Treasury Plc’s parent company, Paragon Asra Housing Limited (‘PA’), announces the release of its audited financial statements for the financial year ended 31 March 2021.
PA’s overriding priority throughout the Covid-19 pandemic has been to ensure the safety and welfare of our residents, staff and partners. While our services have faced disruption, we have worked to maintain high service levels wherever possible
27 May 2021
New Chair
Hattie Llewelyn-Davies stands down as Chair and Board member of PA Housing.
Hattie wishes PA every success in the future, praising the strength of its staff and residents.
Everyone at PA extends their thanks to Hattie for her hard work and dedication over the last three years, and sends their very warmest wishes for the future.
Board member Anne Tuner has been appointed as Interim Chair, pending recruitment of a permanent successor.
30 April 2021
Presentation to investors
PA Housing presented to investors on 27 and 28 April 2021, culminating in completion of a benchmark size bond issue on 29 April 2021. The presentation pack can be accessed via the button below. Please contact our Resources Director Simon Hatchman if you have any queries about the presentation.
23 April 2021
Trading update and unaudited accounts
Trading update and unaudited financial results for the period ended 31 March 2021.
13 November 2020
Presentation to investors November 2020
PA Housing presented a general business update to investors on Monday 16 November. The presentation pack can be accessed via the button below. Please contact our Resources Director Simon Hatchman if you have any queries about the presentation.
View presentation
03 November 2020
Trading update and unaudited accounts
Trading update and unaudited financial results for the period ended 30 September 2020.
09 October 2020
Presentation to bank lenders October 2020
We recently held our annual lenders day, at which we provided a general update on PA’s business performance and future plans. This year we included particular details on our ESG activities. The full slide pack from the day can be accessed here. Please contact our Resources Director Simon Hatchman if you have any queries about the presentation.
01 September 2020
2019/20 financial statements and supplementary information for investors
Audited financial statements for the financial year ended 31 March 2020.
06 May 2020
Trading update and unaudited accounts
Trading update and unaudited financial results for the period ended 31 March 2020.
02 April 2020
Update on response to Coronavirus
Our response to the Coronavirus situation and its current expectations in respect of financial performance impacts.
