Award-winning housebuilder The Hill Group today revealed its financial accounts for 2023, representing another period of record-breaking performance during which the company surpassed revenues of £1bn for the first time. Hill posted record profits before tax of £70.1m from revenues of £1,145.9m for a 15-month period ended 31 March 2024.

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. This strategic move will strengthen collaboration and enable better coordination on shared goals with partners, both for current and future projects. Joint ventures have become a significant pillar of Hill's recent success, and this alignment will further enhance the Group's continued growth.

A total of 2,886 new homes were delivered in the period, with considerable expansion to the company's 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. As a consequence of the Group's substantial growth in the period, net assets are up 14% to £368.9m with net cash at bank closing at £86.4m on 31st March 2024, net of borrowings.

Andy Hill OBE, founder and Group Chief Executive of The Hill Group, comments: “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.”

Andy Hill said: “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."

Hill was recognised by the industry as Housebuilder of the Year at the 2023 WhatHouse? Awards, marking the third time the company has won this prestigious accolade. Hill was also awarded Best Large Housebuilder at the awards, the first time the company has entered the category.

FINANCIAL RESULTS SUMMARY FOR 2023:

• Turnover: £1,145.9m (2022: £716.1m)
• Profit: £70.1m (2022: £65.6m)
• Homes Delivered: 2,886 (2022: 2,203)
• Net Assets: £368.9m (2022: £321.7m)
• Development pipeline: Over 27,000 homes generating potential revenue of over £10bn (2022: £4.6bn) of future revenues
• Net Cash: £86.4m (2022: £131.8m)
• Land purchases: £155m (2022: £55.5m)
• Group Contracting Pipeline: £3.7bn (2022: £2.1bn)

-ENDS-

About The Hill Group

Hill is an award-winning housebuilder and one of the leading developers in London, the home counties, and the South. e company is renowned for its partnership ethos, specialising in the building of distinctive new places and communities where people want to live, work, and socialise. It is now in the process of opening new regional offices to facilitate growth in the Midlands and the South West.

In its 25th year, this family-owned and operated company has grown to establish itself as the UK's second-largest privately-owned housebuilder, with an impressive and diverse portfolio of projects ranging from landmark, mixed-use regenerations, and inner-city apartment developments to homes in rural communities. 

Employing over 850 staff, the company operates from six strategically located regional offices, with its head office based in Waltham Abbey, Essex. 

Hill anticipates completing over 2,850 homes this financial year and has a controlled development pipeline with planning consent for over 8,800 homes. Around half of its portfolio is in joint ventures to deliver a range of mixed-tenure developments, reflecting Hill's commitment to partnerships with government, local authorities, housing associations, and private clients. 

Since the company was founded in 1999, Hill has won over 500 industry awards, including the esteemed titles of WhatHouse? Housebuilder of the Year in 2015, 2020, and most recently in 2023, when it also won the Best Large Housebuilder accolade in its first year entering the category. Rubicon, Hill's innovative and beautifully designed development at Knights Park in Eddington, Cambridge, has been recognised with four prestigious WhatHouse? Awards in 2023, including gold awards for Best Development and Best Exterior Design. Rubicon also won Best Design for Four Storeys or More at the 2023 Housebuilder Awards. The Beech, a stunning contemporary home at Marleigh, won the Best Family Home award at the Evening Standard New Homes Awards 2023 and silver in the Best House category at the WhatHouse? Awards in the same year.

In addition, Hill's dedication to delivering the highest quality homes and exceptional customer service has earned the housebuilder its 5-star status in the Home Builders Federation's annual Customer Satisfaction Survey for the past seven years.

The Hill Group is donating 200 fully equipped modular homes to local authorities and homeless charities as part of a £15 million pledge through its Foundation 200 programme, launched in 2019 to mark Hill's 20th anniversary.