Turnover tops £1bn for Hill Group

House builder The Hill Group has surpassed revenues of £1bn for the first time as it revealed its latest results. 

Turnover for 2023 was £1,145.9m up from £716.1m in 2022. Pre-tax profits climbed to £70.1m up from £65.6m a  year ago. 

The Hill Group chose to extend its reporting period to March 31, 2024, to align its financial year-end with that of its many joint venture partners. 

Over the period Hill Group delivered 2,886 new homes and considerably expanded its 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’s controlled pipeline now represents £10bn of potential future revenues, up from £6.7bn in 2022. 

A further £155m was invested in new land over the reporting period. 

Because of the group’s substantial growth in the period, net assets are up 14% to £368.9m. 

Andy Hill, 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.”