Research into development opportunities in western Europe is beginning to pay off for Higgs & Hill. A pioneer of business park development through its Paris office, the company is now moving into other European centres to enhance even further the property returns which played such a big part in the company’s 45% profits rise, according to chairman Sir Brian Hill.
He continued the policy of refusing to break down contributions from the separate divisions, but said that a “high level” of profits from property contributed to an overall pre-tax surplus of more than £25m in 1988.
Earnings per share rose 41% to 45p (31.9p) and dividends rose by a third, with a final of 8p (6p) making a total of 12p (9p).
Overseas projects are planned in Barcelona, where an office has just been opened, and an office redevelopment in the Hague.
In the UK, the investment portfolio rationalisation is almost complete, while middle-range houses are holding up well in the slump, says Sir Brian.
