1 July 2021
A picture of Sanctuary publishes annual report and financial results for 2020/2021

Sanctuary has issued its annual report and financial statements for 2020/2021 which shows the organisation has remained resilient despite the challenges presented by the Covid-19 pandemic.

Sanctuary, which manages 105,218 homes across England and Scotland, has seen revenue grow to £765m (2020: £763m) and exits the year with a strong balance sheet (including a healthy cash and facilities position of £860m) along with a strong operating cash performance. Sanctuary delivered a good surplus for the year of £46.7m (2020: £53.2m). This, alongside the commitment of its 13,500 staff and ability to quickly adapt in response to significant and swift changes has enabled Sanctuary to continue deliver its services to its residents and communities.

The pandemic has had a temporary adverse impact on occupancy in Sanctuary’s care homes and student accommodation which, along with increased infection control costs, has reduced the overall surplus for the year.  The affordable social housing business has delivered an improved operating margin of 38.4% (2020: 37.4%) benefiting operational efficiencies.

Sanctuary’s development activity has continued in communities across the country and the organisation remains committed to building 15,000 new homes between 2020 and 2028. Alongside this, Sanctuary has continued to invest in its supported housing services with the purchase of nearly 300 homes from Accent Group and successfully completed the transfer of Thistle Housing Association in Toryglen, Glasgow.

As well as updating its Corporate Strategy, Sanctuary has launched a new Environment and Climate Change Strategy which sets out the actions the organisation will be taking to reduce its carbon footprint and improve the performance of housing stock. During the year the organisation also renewed its Equality, Diversity and Inclusion Strategy, launching ‘Inclusion for All’, reflecting Sanctuary’s ambition to go further with its inclusivity agenda for all its staff and customers.

Ed Lunt, Sanctuary’s Group Finance Director, commented: “We are immensely proud of the dedication of the Sanctuary team who have continued to go above and beyond to support our residents and deliver services through the most testing of times. While the pandemic has had short-term adverse effects on parts of the business, the strong fundamentals of our operating financial performance and position ensures Sanctuary will continue to be there for residents and stakeholders over the long-term.”

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