Metropolitan Housing Trust finance chief to step down

(Sharecast News) - Metropolitan Housing Trust announced on Friday that chief financial officer Ian Johnson would retire in the autumn after a 40-year career, including 10 years in his current role.

The AIM-traded firm said he would remain in post until a successor was appointed.

It said Johnson was leaving the organisation in a strong financial position, with its credit rating recently reaffirmed at A- stable by Standard & Poor's in December.

"On behalf of the board and executive team, I would like to thank Ian for his contribution to MTVH and wish him well on his well-earned retirement," said chief executive officer Mel Barrett.

"Ian leaves MTVH in a strong financial position with our credit rating recently confirmed as A- stable by Standard & Poor's in December 2024.

"We have the highest possible G1 Governance Standard rating from the Regulator of Social Housing and a V2 Financial Viability rating."

Barrett said that, while current market conditions made development of homes more challenging, MHT would continue to have the financial capacity to build new homes, and was on track to deliver 569 homes in the year to March.

"Our financial results for the six months to September 2024 showed a robust balance sheet with available liquidity of �675m and a low gearing ratio of 39%.

"We are now focused on the appointment of a new chief financial officer who will build on this track record of success and continue to maintain our strong financial governance while helping to maintain MTVH's values as a social purpose organisation which was established in 1957 to house Windrush migrants and exists to deliver for our residents."

Reporting by Josh White for Sharecast.com.