Our Housebuilder of the Year announces leap in profits
The WhatHouse? Housebuilder of the Year 2015, Hill, has announced a highly successful financial year and a surge in pre-tax profits of 69%, to £31million. Turnover increased by 18% to £304m, based on an annual total of over 1,500 new homes built across London, East Anglia and the South East to the end of December last year.
The average sale price of Hill’s homes in 2015 was £470,000, while its pipeline of more than 2,600 homes will see sales revenue in future years of £1.1bn. The company’s success has been credited to the contribution of shrewd partnerships and joint ventures, and an increasing reputation as a “partner of choice” for housing providers, local authorities and landowners in areas where the company’s hatful of WhatHouse? Award wins in 2015 have thrown the spotlight on its extensive portfolio.
Andy Hill, chief executive at Hill, says: “It’s been another phenomenal year of growth for us. We’re now recognised as a major player with a track record of success in producing distinctive, high-quality homes, and we have a growing reputation as the partner of choice for joint venture projects.
“It is no secret that the country is facing a housing shortage, but the growth that we have seen is more than a simple demand and supply equation. We have been able to successfully build homes which are exactly what the local market is looking for, whether it’s Help to Buy starter homes or luxury apartments for downsizers. Almost half of our completed projects were outside of London and both Cambridge and Oxford are growing markets for us.
“It is a testament to the hard work of all of our staff that we have been able to achieve these results. Across the business there is a real sense of momentum as we look towards 2020 and implementing our new five-year strategy for growth, which will see a significant increase in capacity through recruitment to meet our growing pipeline.”
The new five-year strategy for growth will see the firm increase the number of homes it completes each year past 2,500, with the aim of reaching a turnover of £850m and profits of £90m by 2020. The company will also be recruiting heavily to bring its team past the 500 mark over the next two years.
Take a look at the full range of current developments from Housebuilder of the Year Hill here.