L&Q has maintained its surplus target for 2019-2020, the firm confirmed in its third-quarter trading update.
The housing association expects surplus after tax to be in the range of £200m to £220m for the year ending 31 March 2020.
Previously, in a second-quarter trading update, the firm had revised its target down from £250-£270m to £200-£220m.
Waqar Ahmed, group director for finance, said that measures to reassess new scheme appraisals and place some of these on hold “where necessary” has allowed L&Q to make “good progress against our current priorities being the safety of our residents, the quality of the homes and services we provide and delivering on our social purpose”.
He added: “The financial commitment to address these priorities continues to be reflected in our trading results that are showing signs of stabilisation in the short-term and recovery as we look to the medium term, aided by positive signals emerging in the latter part of the quarter from the sales market.
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