Higgs & Hill has become the third British builder to pull out of contracting after Wimpey and Alfred McAlpine. It is selling its loss-making building contracting operation to Hollandsche Beton Groep of Holland for £28.5m.
The disposal will leave the group as a small property developer and regional housebuilder. The division has made losses for five years and pushed the company into a £7.7m loss in 1995. A loss of £3m is expected this year because of five problem construction contracts.
- The Daily Telegraph 18/12/96 page 26
- Financial Times 18/12/96 page 29
- The Independent 18/12/96 page 15
