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Mon June 21 2021

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House-builder grows profits even in pandemic

21 Apr House-builder Hill Group has posted record turnover for 2020 despite the challenges of the coronavirus pandemic.

Hill, the UK’s third largest privately-owned housebuilder, generated sales of £651m for the year to 31st December 2020, up 12% on 2019, and grew pre-tax profit 4% to £44.3m (2019: £42.6m).

Hill said that it was on track with its five-year strategy of doubling turnover and profitability in the period up to 2025.  The strong balance sheet shows more than £138m of cash in the bank, £224m net assets and no borrowings.

The company is based in Essex, with four regional offices in Cambridgeshire, Oxfordshire, Norfolk and West Sussex. In 2020 it launched a new division in the southwest to focus on Bristol and surrounding areas. The group’s current land bank includes more than 6,700 homes with a pipeline of opportunities that could deliver a further 9,400 homes.

Owner and chief executive Andy Hill said: “I am very proud of this strong set of financial results but what has brought me the most pleasure is seeing how our team has weathered different challenges throughout the year. We have invested in our people, pipeline, and new technologies to increase our capabilities and lay the foundations for our next stage of growth.”

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