06 FINANCE FINANCIAL COMMENTARY ANNUAL REPORT 2019–2020 An increase in the number of properties, both owned and managed, has resulted in another year of strong revenue growth for Evolve Housing Ltd for the 2019-20 financial year. Through a focus on cost management,
which resulted in the business actually seeing
whilst still investing in our people, systems and
a decrease in rental arrears compared to
asset management programs to deliver high
previous years.
quality customer service, the business has been able to deliver another year of
Evolve Housing, from a balance sheet perspective,
solid profitability.
has increased its total net assets through a combination of increased properties, growth
A key highlight from this years’ result is the
in cash balances and strong management of
robustness of our business model across all
working capital.
metrics despite the challenges brought about through COVID-19 and the wider impacts on the
Cash flow management has also been a key
economy generally.
focus resulting in an overall increase in cash held of $15.4M which has positioned the
Of particular note is the management of
business well to embark on further growth
property rental income and tenant wellbeing
and investment in future years.
84 | Evolve Housing Annual Report 2019–2020
