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Financial Information Release

We have released financial information based on the audited accounts of RSLs for the year ended 31 March 2008. This information is usually presented along with a commentary giving our view of the sector’s finances. Rather than this, we will issue a comprehensive report later this month which will draw upon evidence from our regulation and inspection work over the last five years, and our first year as the Scottish Housing Regulator, to highlight key themes for improvement across the sector. This will contain our analysis of the finances of the sector and highlight the key financial messages for the organisations that we regulate.

In aggregate this information shows:

● Sector-wide turnover increased by 9%, to £1,012 million;

● Operating costs were £899 million or 89% of turnover;

● Salary costs were £307 million and remain the single largest item of operating

expenditure; and

● Interest cover ratio on a sector-wide basis has fallen slightly to 138% from 142% but there are significant variations between RSLs’ performance.

You can find the Financial Information here.