Andy Hill

The Hill Group announces record £583m turnover

The Hill Group has announced a record turnover, a strong balance sheet and solid profits in its 2019 annual results.

It revealed a turnover of £583m, up by 16% year on year.

The privately-owned housebuilder completed 1,800 new homes in the year, a 16% increase, 1,120 of which were delivered from private sales and joint venture activities.

However, the company’s recorded profits before tax dropped by 12% year-on-year to £42.6m due to cyclical factors and planning delays.

The secured pipeline of 6,500 homes includes joint venture partnerships with local authorities, housing associations and private companies as well as developments in the South West region.

Andy Hill, CEO at The Hill Group (pictured above), commented: “Yet again, the business has delivered a very strong financial performance, which has been a team effort from across the group, and we are extremely well placed to see further growth and profitability over the medium term.

He stated that, while the full impact of the coronavirus pandemic on the wider economy is not yet known, it has successfully stress-tested the financial resilience of the business in multiple scenarios.

“As a privately-owned business, we are not subject to the pressures and fluctuations of the stock market, so we can take a long-term view at times like this and seize opportunities to build our pipeline and invest in growth areas.”

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