During the year to March 31 2020, the said it invested £260 million in building new homes and maintaining and improving its existing portfolio, with turnover rising to £214.6 million against 2019’s £211.9 million.
Pre-tax profits also rose to £59.8 million compared to last year’s £55 million.
During the period, Aster built 1,067 new homes, down on last year’s 1,156. This was due to “the timing of handovers and completions by developers”, Aster said.
Of this year’s homes total, 112 were for open market sale, 524 were for social and affordable rent and 431 for shared ownership.
Aster said that during its financial year it had strengthened its joint venture partnership with Vistry Group, which is due to deliver more than 1,400 houses by 2025.
Under its land-led programme, the group acquired land to deliver more than 700 homes. Aster said that during the next few years it planned to increase its land portfolio.
Aster currently has a portfolio of more than 32,000 homes, with £2 billion of assets on its balance sheet, including £148 million in cash.
Bjorn Howard, Group CEO, said: “2019/20 was another strong year for Aster Group in which we remained focused on increasing the supply of high-quality affordable homes across the south of England. We continue to leverage our strong balance sheet to be one of the top developers in the sector, ensuring we offer a range of housing choices and services, something that is enhanced by our partnership with East Boro.
“At a time of huge uncertainty for people across the UK, we’re proud of the safe, reliable and modern services that we continue to provide to all our customers.”
