Investor relations

Announcement from Paragon Treasury Plc

Paragon Asra Housing Limited (‘PA Housing’) trading update and unaudited financial results for the period ended 30 September 2019.

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PA Housing is proud to announce that we’ve been nominated for Housing Finance Awards in the categories of Finance Team of the Year and Treasury Team of the Year.

Most of the team were still new to PA (and indeed social housing) a year ago, so it’s a real accolade for everyone’ hard work and contribution that we’ve been able to get this nomination.”

Ian Kerr, Head of Treasury & Financial Planning

The awards ceremony, which is held annually by the National Housing Federation, will take place in Liverpool on Wednesday 20 March. We’re up against 4 other housing associations in each category. 

Good luck to our brilliant teams!

£50 million funding package secured

We are delighted to announce that PA Housing has secured a £50m funding package from Lloyds Bank Commercial Banking that will allow us to build 5,700 new homes over the next 10 years.

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2017/18 financial statements

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 2018. These financial statements reflect the first year of trading for PA, which was formed on 13 April 2017 following the amalgamation of Paragon Community Housing Limited (‘PCH’), asra Housing Association Limited (‘AHA’) and Leicester Housing Association Limited (‘LHA’).

PA is pleased to confirm that its results for 2017/18 were in line with the Board’s financial plans. Key figures are as follows; the 2016/17 combined results for PCH, AHA and LHA are stated for comparative purposes and the results represent group-wide performance: 

These results evidence a strong and resilient financial position which allows the Board to make appropriate strategic decisions in pursuit of PA’s vision, which is to become widely recognised as a social enterprise with a reputation for providing quality homes and services – by 2022.

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PA Housing welcomes new Chair

We are very pleased to announce that after a rigorous recruitment and selection process, Hattie Llewelyn-Davies OBE has been appointed as the new Chair of PA Housing from 1 October 2018.

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Paragon Asra Housing (PA Housing) secures highest regulatory rating for Governance and Viability

The Regulator of Social Housing has today announced the highest ratings to PA Housing for governance and financial viability. The Governance 1 and Viability 1 (G1:V1) ratings confirm that PA Housing fully meets the regulator’s requirements in relation to governance, and has the financial capacity to deal with a wide range of adverse scenarios.  

The regulator carried out an In-Depth Assessment during January 2018. The following areas were scrutinised in detail:

• Overall strategy, associated risks and capacity to deliver plans
• Governance framework and its execution
• Long term business plan, stress tests and mitigation actions
• Risk management, and early warning triggers
• Financial resilience – strength and headroom, and debt planning
• Value for Money and the strategy to deliver improvements.

The assessment involved a comprehensive review of documents, followed by meetings with PA’s Board, Executives and some of the Committee Chairs. 

The safety of our customers is our top priority. 

We understand that following the tragic events in London many of our customers will be concerned and have questions, especially those whose home is in a high-rise block.

Our Fire Safety Team continues to carry out assessments, and address any concerns as quickly as possible.  PA Housing owns and manages 24,000 homes throughout the Midlands, London and the South East, of which 31 are buildings with 6 or more floors.

All of these blocks comply with current legislation and checks will be continuing on a regular basis by PA Housing staff to make sure our customers are safe.

We have now written to all of our customers living in these properties offering reassurance that their buildings are safe.  We have also provided them with specific information relating to their home and what to do in an emergency, as well as some more general advice on how to stay safe in their homes and how to reduce the risks of a fire.

In the days following the fire at Grenfell Tower, all of these buildings received additional visits and in a further effort to support the fire and rescue service have adopted a zero tolerance approach to items being left in communal areas by customers.  If during routine inspections our staff find any personal items, or anything that could either act as a fuel or impede evacuation in the event of fire, these will be treated as a breach of tenancy and we will arrange for their removal.

Our customers are the eyes and ears of PA Housing, and we are asking them to be vigilant in their approach to security and fire safety.  We are encouraging them to report any cause for concern to us immediately to allow us to address any possible issues as quickly as we can.

We will continue to review our processes to take on-board any findings from the events at Grenfell Tower once released, and will work with our customers to ensure they remain informed and safe.

Paragon Treasury Plc’s parent company, Paragon Asra Housing Limited (‘PA Housing’), announces the release of its audited financial statements for the financial year ended 31 March 2017. These are the final financial statements released by the two entities which amalgamated on 13 April 2017 to form PA Housing, namely Paragon Community Housing Limited (‘PCHL’) and asra Housing Group Limited (‘AGL’). 

2016/17 Financial statement summary 

PA Housing is pleased to confirm that both organisations delivered strong results for the 2016/17 financial year, with key figures as follows:

 Note: the ‘Combined’ column above represents a simple aggregation of the PCHL and AGL results, not an accounting consolidation, and is included merely to provide a guide as to the financial metrics of the new organisation PA Housing 

These results evidence a solid financial base position from which the newly amalgamated PA Housing can prosper as it works towards its purpose of delivering more affordable homes and great customer services. 

Value for money statement 

Full financial report & statements