Housebuilder The Hill Group posted record profits of £65.5m last year and is on track to double the size of its business by 2025 while growing headline turnover to £1.25bn, according to its latest accounts.
In 2022, the company generated revenue of £716m and delivered 2,203 new homes. Its development pipeline stands at around 8,500 homes and it has a further £315m land bank capable of delivering more than 12,300 homes, representing £4.6bn of future income.
The housebuilder said it had a “strong cash position” and has an untouched £220m development funding facility with four high street banks, which “puts the business in an excellent position to take advantage of future market opportunities and pursue further strategic investments” to add to its development pipeline.
Andy Hill, group chief executive officer of The Hill Group, said: “I am most grateful for the performance of my leadership team and our employees for their hard work and dedication over the past year. The impressive results we have achieved, coupled with significant investments and the structural improvements we have made against a backdrop of various economic and sector-specific challenges, demonstrates The Hill Group’s resilience and position for sustained long-term success.
“Our strong performance over many years has been built on a mission to be the UK’s most trusted housebuilder, creating exceptional homes and sustainable communities. I am confident this outlook will continue to bring us success in the years to come. Our diversified business model and strong development pipeline, along with our resilience to short-term economic impacts, means we are well-positioned to maintain a positive trajectory and achieve our five-year business targets.”
