LHC is in the process of distributing to its members a record surplus of just under £2.4m that was achieved for the year ending 31st March 2014/15.
This was achieved through income from projects amounting to £210m for products and services procured through LHC frameworks.
Increasing popularity of our frameworks
Our industry leading frameworks have helped grow our business from £60m in 2011/12 to £210m in 2014/15, that’s a staggering increase of 250% over a five year period. This reflects the increasing popularity of our frameworks.
Payments received by members, which are in addition to savings that were achieved by using LHC’s frameworks that this year totaled an estimated £22.7m, are often used to fund community projects or provide improvements to services.
John Skivington, LHC Director, said:"This was beyond our expectations but reflects the continuing high standard of the frameworks we develop and manage.
"Councils, social housing landlords and other public sector bodies investing in housing and other buildings are increasingly turning to LHC to procure the products and services they need.
LHC benefits for members
“The end result is a more efficient and effective procurement process for our members. They do not have to spend time and resources finding and checking out prospective suppliers to enable them to secure high quality products and services at the best price.
"Crucially, they are safe in the knowledge that they fully comply with OJEU regulations.”
Members due a rebate are currently being notified of the value of their share.
Any council, housing association or other public sector body can benefit from LHC rebate of any surplus generated each year by becoming a member at no cost.
The only stipulation to receive a share is that members spend over £200k on at least two LHC frameworks within the specific year.
A copy of LHC's annual review can be downloaded from the 'Publications' box above.
Annual Review 2015/16Download (pdf)