Investor relations

We’re committed to keeping our investors informed with clear, up-to-date information. 

Thirteen is a housing association that provides homes, support and opportunities to around 100,000 people across the North East, Yorkshire and Humber. 

Every year, we invest millions to make sure our homes are safe, secure and well maintained. We’re here for people who need a helping hand—whether that’s getting on the housing ladder, managing rent or keeping their home in good repair. 

We have a strong track record of building new homes for rent and shared ownership. As a Homes England Strategic Partner, we’re delivering hundreds of high-quality, modern homes that meet the needs of local communities. And we’ve got ambitious plans to grow our development programme over the next five years. 

But we’re more than bricks and mortar. We invest in services that help people live their best lives – supporting customers and communities every step of the way.

Financial performance

Trading Update - Quarter 1 2026/27

• Turnover of £59.2m, a year-on-year increase of £2.2m on Q1 2026 of £57m.
• Operating surplus of £15.6m, which exceeded the Q1 2026 operating surplus of £14.9m by £0.7m.
• Net surplus of £10.7m, in line with the Q1 2026 net surplus of £10.7m.
• We have delivered 151 affordable new homes, 34 more than the 117 delivered at the end of Q1 2026. During the quarter we invested £23.5m net of grant in affordable new homes, £4.5m less than the £28m in Q1 2026, due to programme timing.
• We have invested £16m in major investment works in our existing homes, an increase of £3.8m on the £12.2m in Q1 2026.
• Our available cash and undrawn liquidity was £150.6m, a reduction of £47.5m on the £198.1m at the end of Q1 2026. New funding will be acquired this year to increase liquidity.
• Our outstanding debt was £472.7m, an increase of £42.8m on 2026 Q1, reflective of our ambitious development and major investment works programmes.
• Our EBITDA MRI interest cover was 241%, exceeding our target of 125%.

Forecast for 2026/27

• Our turnover is forecasted to be £240m in line with the budget and an increase of £5.2m on 2026 turnover of £234.8m.
• Our operating surplus is forecasted to be £47.0m, £1m ahead of the £46m budget and £2.4m below the 2026 operating surplus of £49.4m.
• Our net surplus is forecasted to be £26.5m, £0.5m ahead of the £26m budget and £3.2m below the 2026 net surplus of £29.7m.
• We plan to deliver 426 affordable new homes this year in line with our budget. In 2026 we delivered 668 homes. We are currently awaiting the outcome of our SAHP bid for more grant funding. We anticipate investing £104.9m net of grant in the delivery of affordable new homes, subject to the outcome of the bid. In 2026 we invested £68.2m.
• We anticipate investing £74.3m in our existing homes as part of our major investment works programme, £0.4m less than budget of £74.7m and £7.1m more than the £67.2m in 2026.
• We anticipate our EBITDA MRI interest cover of will be in line with our target of 125%.

ESG reports

Our Environmental, Social and Governance (ESG) reports bring together key metrics and a summary of our work to help investors understand our performance and impact. 

2025 ESG report – our fifth annual report

2024 ESG report – our fourth annual report 

2023 ESG report – our third annual report

Investor contacts

Our chief resources officer, Jane Castor, is responsible for all aspects of Thirteen’s finances, governance, corporate affairs and our people. 

She is supported by Amy Dryden, finance director, who leads our finance functions including treasury and long-term planning, reporting and transactions, and income.