Opening Doors - Enhancing Lives


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RNS Update

RNS Number : 9376M
PenArian Housing Finance PLC
12 January 2019

Pennaf Ltd: sees continued improvement in performance in first 6 months of 2018/19

Pennaf Housing Group has performed well over the six months to 30 September 2018, with a steady improvement in operational performance, whist delivering growth in units and maintaining a good level of liquidity.

The six-month performance report is available here

 

RNS Number : 1844E
PenArian Housing Finance PLC
16 October 2018

Pennaf Ltd: Pennaf receives top rating from Regulatory Judgement.

The full report shows Pennaf is Standard for both Governance and Services as well as Financial Viability.

 

RNS Number : 7279B
PenArian Housing Finance PLC
24 September 2018

Pennaf Ltd: Annual Financial Statements - 24 Sep 2018 13:28

Financial statements for year ended 31st March 2018. The Group's Operating Surpluses continue to improve. The full financial statements are available through the links provided on the Investors page.

 

RNS Number : 8988X
PenArian Housing Finance PLC
15 August 2018

Pennaf Ltd: Executive Restructure.

In order to better achieve the Group's aspirations and goals, the Executive Team is being restructured to align closer with key business priorities. As a result, the Deputy Chief Executive post and the Finance Director post are being combined into a newly created Executive Director of Resources. The new post will have responsibility for Finance, IT, Governance, Performance and Health and Safety co-ordination. This post will be advertised shortly, with a final appointment expected in early October. A new fixed term post of Executive Director of Organisational Change has been created and the current Deputy Chief Executive will undertake this role. The Finance Director will remain till the end of the year to facilitate handover and continuity.

 

RNS Number : 6443N
PenArian Housing Finance PLC
10 May 2018

S&P Rating of A Stable.

Pennaf Housing Group's rating from S&P has been affirmed at A stable. In S&P's view Pennaf still enjoys a stable demand for its services. S&P also felt there has been a material Improvement in Pennaf's cash position following placement of the £250 million bond (£90million retained) in June 2017.

At the same time S&P affirmed their 'A' issue rating on the £250 million bond issued by PenArian Housing Finance PLC.

 

RNS Number : 4695E
PenArian Housing Finance PLC
09 February 2018

PenArian Housing Finance Plc: Appointment of Chair of the Board

With effect from 6 February 2018, Mr Peter Lewis was appointed as a director and chair of the PenArian Housing Finance Plc board, replacing Mr Glyn Jones who has resigned from the position. 

 

RNS Number : 6557D
PenArian Housing Finance PLC
01 February 2018

Pennaf Ltd: Appointment of External Auditors

Pennaf Ltd and PenArian Housing Finance PLC are pleased to be able to inform you that following a tender process the group have appointed new external auditors.

Beever and Struthers are the successful tenderers, their contract will commence on the 1st April 2018 and will audit the groups 2017-18 financial statements.

 

RNS Number : 8437C
PenArian Housing Finance PLC
24 January 2018

Pennaf Ltd: New Chief Executive

Pennaf Ltd and PenArian Housing Finance PLC are pleased to be able to inform you that Clare Budden has been appointed to take over as the new Chief Executive of the Pennaf Group as from 16 April 2018.

Clare is currently the Chief Officer Community and Enterprise at Flintshire County Council, and has previously worked in housing associations as Managing Director at CDS, Greater Hornsby and New Generation.


Latest Financial Update

Pennaf Financial Accounts

KPI Report

Development Report

Regulatory Judgment

Investors

Pennaf operates across 7 Local authorities in North Wales and owns and manages over 5,700 properties within that region. The group is committed to providing high quality new homes through its main Registered Social Landlord’s (RSL’s) Clwyd Alyn Housing Association and Tŷ Glas.

The Groups Primary Purpose is “Opening Doors – Enhancing Lives” and it’s five corporate objectives are:

  1. We invest in and adapt houses in the community
  2. Residents are satisfied with our services
  3. We are financially resilient and deliver value for money
  4. We are governed effectively
  5. We maximise our people’s potential, effectiveness and engagement

You can find more information via each of the company websites:

Financial Information

Interim Sept 2018 Accounts

The Group’s strong operational performance and efficiency has resulted in robust financial health, despite economically challenging times. Over the past three years the group has experienced strong growth. The Group’s intention is to continue to grow and we intend to deliver 1,500 new homes over the next 5 years.

Ratings

Our financial strength and stability has been supported by the rating issued by Standard and Poor’s, with a rating currently of A (Stable outlook). Standard and Poor’s view was that Pennaf’s enterprise profile was a rating strength as was the high quality earnings. They also felt that Pennaf will be able to pursue its development program while containing financial risks.

Bond Issue

The Group was the first housing association in Wales to secure £160 million publicly listed bonds through PenArian Finance Ltd from the capital markets, with a further £90 million retained for future investment. These funds have been used to reduce financing costs by settling bank debts and to build additional housing in line with the Group’s aims.

Operational Information

The Group is regulated by the Welsh Government and the latest Regulatory Judgement Report, which was issued in September 2018, gave the Group the top rating of ‘Standard’ for both Governance and Services, and Financial Viability.

 

The information provided may contain certain forward looking statements about Pennaf and the Group. These have been prepared by Pennaf and are unaudited. Although Pennaf believe that these statements are based upon reasonable assumptions on the relevant publication date, any such statements should be treated with caution as future outcomes may be influenced by unforeseen factors that could cause forecasts and actual results to be materially different. Additionally, the information presented should not be construed as solicitation/recommendation to invest in Pennaf’s bonds

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