The Hill Group Reports Turnover Boost of 12% in 2020

20 April 2021 | Finance

Housebuilding company The Hill Group posted turnover of £651m in 2020, which the company claims is an increase of 12% on the previous year.

In a statement, the Hill Group acknowledged that while Covid-19 had tested every part of its business, it was on track with its five-year strategy of doubling turnover and profitability by 2025.  It has maintained a strong balance sheet with over £138m of cash in the bank, £224m net assets and no borrowings, putting it in a robust position for further investment in its future development pipeline. It said that profits for 2020 were £44.3m.

Andy Hill, CEO of the Hill Group, comments: “I am very proud of this strong set of financial results but what has brought me the most pleasure is seeing how our team has weathered different challenges throughout the year. We have invested in our people, pipeline, and new technologies to increase our capabilities and lay the foundations for our next stage of growth.”

The company has its Group headquarters in Essex, along with regional offices in Cambridgeshire, Oxfordshire, Norfolk, and West Sussex. It launched a new division in 2020 in the South West to focus on Bristol and surrounding areas. The group’s current land bank includes more than 6,700 homes with a pipeline of opportunities that could deliver a further 9,400 homes.

Hill added: “We take a long-term approach when making our strategy business decisions allowing us to adapt or modify in the short term as required by customers and clients, without losing sight of our wider vision: ‘To be the UK’s most trusted Housebuilder creating exceptional homes and sustainable communities’ in the Hill Way. This approach has stood us in good stead through 2020. We have a lot to be proud of and we are well positioned to make the most of market conditions in years to come.”

This post has originally been featured in Property Wire.