The design and build specialist pivoted away from its growth strategy at the end of 2023 to focus on quality projects as the industry adapted to cope with the impact of the Building Safety Act.

Latest numbers show turnover fell to £387m from £424m but the bottom line improved significantly with an increase in pre-tax profit to £9.5m from £6.4m.

Adam Quinn, Chief Executive, HG Construction,said: “The construction sector faced a year of change in 2024, as the introduction of major regulatory reforms created new challenges across the industry.

“We viewed this evolving environment as the ideal opportunity to strengthen our internal foundations to ensure that the business is well-positioned for sustainable delivery and continued excellence in project execution.

“As such 2024 was a pivotal year for HG as we transitioned into a new phase of our strategic business plan, and our revised strategy is already delivering results. We are pleased to report a solid turnover of £387 million and a marked 30% increase in gross profit margin compared to 2023.

“I am incredibly proud of the results we have posted, and I would like to recognise our exceptional teams for their continued hard work and commitment. With a robust financial position and a healthy pipeline, 2025 promises to be another successful year for the business as we continue to work collaboratively with our valued client base on landmark projects throughout the UK.”

HG was formed in 2000 following a management buyout of Hunting Gate, a Hitchin based contracting firm with a turnover of £27m at the time.

It delivers large scale, complex schemes across the UK, specialising in the student accommodation, residential, hotels, commercial and later living sectors.