Hill Group has surpassed revenues of £1bn for the first time in 2023.
The housebuilder saw a 60% increase in its turnover in the 15-month period ended 31 March 2024. It posted £1,145.9m in turnover, up from £716.1m in 2022.
Its profit before tax also rose by 7%, to £70.1m in 2023, up from £65.6 in 2022.
Hill extended its reporting period to 31 March 2024, to “align its financial year-end with that of its many joint venture partners”.
It said that the strategic move will strengthen collaboration and enable better coordination on shared goals with partners, both for current and future projects.
A total of 2,886 homes were delivered 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 homes.
Hill’s controlled pipeline now represents £10bn of potential future revenue, up from £6.7bn in 2022.
Andy Hill, founder and group chief executive of Hill Group, said: “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.
“With these excellent results, we are on course to surpass the targets we set ourselves for this current business cycle, and as we begin plotting new heights to reach for over the next five years, we are well positioned to continue delivering exceptional value to our stakeholders.”
Photo © Hill Group
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