For the 15-month period ended 31st March 2024, The Hill Group posted record profits before tax of 拢70.1m from revenue of 拢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鈥檚 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鈥檚 controlled pipeline now represents 拢10bn of potential future revenues, up from 拢6.7bn in 2022. A further 拢155m was invested in new land over the reporting period.
Net assets are up 14% to 拢368.9m with net cash at bank closing at 拢86.4m on 31st March 2024, net of borrowings.
Andy Hill, founder and chief executive, said: 鈥淭hese 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 拢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.鈥�
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