The UK’s third largest privately-owned house builder posted a record turnover of £651m, up 12% on the previous year and profits of £44m.
Chief executive Andy Hill said that despite taking a £60m estimated revenue set back because of Covid, the firm was on track with its five-year strategy of doubling turnover and profitability in the period up to 2025.
It has maintained a strong balance sheet with over £138m of cash in the bank and no borrowings.
Average payment days to suppliers also improved from 34 to 32 days.
Hill said: “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.”
Within the group, the partnerships business also kept up growth with revenue up 5% to £346m, but pre-tax profit fell 14% to £7.8m.
Hill Group performance 2020
- Revenues of £651m up 12%
- £44.3m profit up 4%
- 1,960 homes completed