OREANDA-NEWS.  Circle Housing, one of England's largest housing associations, today publishes its financial results for the year ended 31 March 2016, and its annual report and accounts. 

The 2015/16 full annual report and accounts, as well as the 2016 corporate responsibility report are available online by visiting www.circlegroup.co.uk 

Group financial summary

m pounds

2014/15*

2015/16*

Turnover

424.6

439.2

Cost of sales

(38.2)

(30.3)

Operating costs

(273.1)

(283.2)

Operating surplus

113.3

125.7

Operating margin

27%

29%

Surplus on sale of fixed assets

13.8

22.9

Net interest and other financial income

(77.8)

(86.4)

Surplus

67.4

85.8

*2014/15 and 2015/16 results are presented under the new accounting framework, Financial Reporting Standard (FRS 102)