For the 15-month period ended 31st March 2024, The Hill Group posted record profits before tax of £70.1m from revenue of £1,145.9m.
The Hill Group has changed its financial year end from 31st December to 31st March to align with joint venture partners.
A total of 2,886 new homes were completed in the period, with considerable expansion to the company’s development pipeline, which now stands at 12,900 homes with detailed or outline planning permission, from an overall development pipeline of some 27,000 units. Hill’s controlled pipeline now represents £10bn of potential future revenues, up from £6.7bn in 2022. A further £155m was invested in new land over the reporting period.
Net assets are up 14% to £368.9m with net cash at bank closing at £86.4m on 31st March 2024, net of borrowings.
Andy Hill, founder and chief executive, said: “These outstanding results, recorded during a challenging political and economic market, are testament to the resilience of our business, the high quality of our developments, and most importantly the dedication of all our staff and supply chain partners. Achieving revenues in excess of £1.1bn and record profits is an important milestone for The Hill Group, which together with our strong balance sheet and impressive development pipeline positions us for further sustained growth in the years to come.”
Got a story? Email news@theconstructionindex.co.uk
