· L&Q has completed 1,763 residential units (2019 Q3: 1,997) · Turnover was £689m (2019 Q3: £638m) · EBITDA · EBITDA margin · EBITDA margin (excluding sales) · Gross sales margin · Net sales margin · EBITDA / interest cover · EBITDA social housing lettings interest cover
7 was 206% (2019 Q3: 130%) · Operating surplus was £270m (2019 Q3: £215m) · Debt to assets · Sales as a % of turnover
10 was 38% (2019 Q3: 44%)
Our Q3 results provide us with the confidence to improve our forward guidance metrics for the financial year ending 31 March 2021. We expect EBITDA to be in a range of £325m to £350m (Q2: £300m to £325m) and net debt to be in the range of £5.6bn to £5.7bn (Q2: £5.8bn to £5.9bn). Our revised projections reflect stronger than expected operational performance during the Covid-19 pandemic, particularly in relation to completions, sales and rent arrears. Our proje
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Service Complaints Ombudsman Appointment announcement
The Ministry of Defence is pleased to announce the appointment of Mariette Hughes as the next Service Complaints Ombudsman for the UK Armed Forces.
From:
18 January 2021
Ms Hughes appointed from 12 January 2021, succeeds Nicola Williams who has carried out the role since 2015.
The role of the Service Complaints Ombudsman was established by the Armed Forces Act 2006, as part of the Service Complaints system which came into effect from 1 January 2016. The complaints system allows a member of the UK Armed Forces to make a complaint if they believe they have been wronged in a matter relating to their service.
Credit: peter byrne/pa
SIR – Here in Freshwater on the Isle of Wight the vaccine rollout was going really well, but it had to stop because it had got ahead of other parts of the country and the Government would not supply more vaccine.
To use the kind of wartime analogy favoured by the Prime Minister, this is like travelling in a convoy: you move at the speed of the slowest ship.
I thought that avoiding this sort of situation would be one of the advantages of leaving the EU.
Jamie Sheldon
SIR – My 88-year-old father with chronic obstructive pulmonary disease has not yet had the vaccine, since his local surgery did not receive any until this week.
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