Housing 21 hit by £12m write down

Housing 21 reported a turnover of £222m for the year ended 31 March 2013, a marginal increase on the previous year’s revenues of £220.2m. Due to a £13.2m increase in costs, however, the extra-care housing developer and care provider’s operating surplus more than halved to £10.8m from £22.2m in 2012. This led to the charity recording a pre-tax deficit of £4.2m (2012: surplus £8.3m).