Our annual report and financial publications highlight our successes over the last financial year and set out how we plan to grow and provide the best services for our customers.
Our 2020/21 annual report
We are delighted to share with you some of our latest news and updates as the largest provider of affordable homes in the South West. We have delivered great results and this gives us the perfect platform to continue with our ambitious growth strategy in the future. We look forward to working with our partners to create positive economic investment and successful outcomes for our region.
Melvyn Garrett, Deputy CEO/Executive Director of Finance: “Over the last 12 months, Covid-19 has brought unprecedented challenges and we are proud of how dynamic and resourceful we have been in responding positively to a rapidly changing environment.
“Our annual accounts show that we have been able to deliver a strong financial performance, delivering 701 affordable homes for rent and shared ownership and 84 homes for sale across the South West.
“This was below our budgeted number as a result of closing some of the sites during the early part of the Covid-19 pandemic. Since summer 2020 all sites have reopened and we saw strong demand and robust margins for our shared ownership and outright sale homes.
“With a challenging external environment, we responded with exceptional agility – providing new services and supporting the wellbeing of our customers by identifying their needs and helping them to access the support they required.
“Putting our customers first runs through the heart of LiveWest and our sustained efforts to meet our customers’ needs are highlighted with an 89% satisfaction rate.
“We have made almost 20,000 welfare calls to our customers in the last 17 months, donated more than 300 laptops to schools and issued more than £300,000 in crisis and hardship grants to our most vulnerable customers.
“LiveWest has had a very strong operational and financial performance, delivering a surplus of £46m. The decrease in surplus (£59m, 2020) was largely as a result of increased investment in personal protective equipment (PPE) and building safety and a £10m charge for restructuring interest rate swaps in line with our treasury strategy to reduce future costs of borrowing.”