The Hill Group have released their financial accounts for 2023, detailing another year of record performance and surpassing £1bn revenues
The Hill Group have released their financial accounts for the year 2023, after having extended its reporting period to March 31, 2024.
The extension was a decision made in order to align the end of its financial year with that of its joint venture partners, increasing co-operation between the groups.
The report details the accounts for the Hill Group’s financial year 2023.
Another record-breaking year
The 15 month period saw record profits for the group, hitting £70.1m before tax from revenues, of which consisted of over £1.14bn, the first time the group have exceeded £1bn in revenue.
Much of the Hill Group’s financial success is thanks to the group’s joint ventures, and the group hopes that the continued collaboration with them will only grow their success further, especially with the government’s affordable housing boost.
Over the period, the group delivered 2,886 new homes, and detailed/outlined planning permission for another 27,000 units, a pipeline that represents £10bn of potential revenues in the future.
This, together with gains in land, shows an increase in net assets of 14%, to £368.9m.
Andy Hill comments on the Group’s financial success
Andy Hill OBE, founder and group chief executive of The Hill Group, said: “These 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 £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.
“This year, we celebrate our 25th year in business and I am delighted we can mark this occasion as a dynamic, forward-thinking business achieving high standards in all that we do. With these excellent results, we are on course to surpass the targets we set ourselves for this current business cycle, and as we begin plotting new heights to reach for over the next five years, we are well positioned to continue delivering exceptional value to our stakeholders.
“Our commitment to innovation, sustainability, and excellence remains steadfast, and I am confident that the future holds even greater success for The Hill Group.”
