Sector aggregate cash interest cover fell sharply in the first quarter of 2026/27

On a like-for-like basis, cash interest cover declined from 87% in the quarter to March to 49% in the quarter to June, although the latest figure was restated to 59% after the grant associated with capitalised major works was included in the calculation.  On an annual basis, the sector’s aggregate cash interest cover for the year to June 2026 was 76%, with a median of 86%.  According to the RSH’s latest Quarterly Survey, this worsening of performance was due to higher repairs and interest costs, combined with large annual invoices such as insurance premiums and IT licence fees.