For the year to 31st July 2020, Higgins Group made a pre-tax loss of 拢3.1m on turnover down 22% at 拢186m.
鈥淎 combination of exceptional circumstances and one-off events including Covid-19 during the year contributed to the loss,鈥� said chairman Richard Higgins.
The pre-tax loss was slightly better than the previous year鈥檚 拢4.0m pre-tax loss. The 拢1.1m operating loss for 2020 was similar to the 拢1.1m operating loss for the previous year.
However, the company ended the year with zero gearing and operating comfortably within its banking facilities.
Higgins Partnerships, the contracting arm, decreased turnover by 48% due to the Covid-19 restrictions. Higgins Partnerships and the company鈥檚 speculative housing business, Higgins Homes, have subsequently been consolidated into a single trading entity.
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