Member Article

Hill celebrates bumper year as revenues rise to £367m

Housebuilder Hill has enjoyed a 21% increase in its turnover which it claims makes it the UK’s third biggest housebuilder.

The family-run developer, which has recently revealed a number of high-profile joint-ventures in and around London, saw its turnover rise to £367m last year with a similarly chunky rise in its pipeline and net profit a well.

Hill is currently targeting around 2,500 new home completions per year by 2020, a figure that looks all the more likely after the firm grew its pipeline by 45% year-on-year to £1.4bn, representing 3,200 homes.

This includes sites in North West Cambridge and its Barton Park Project in Oxford. Hill has also signed JVs with housing associations, including a pair of schemes totalling £350m with Peabody, to develop its Fish Island Village and Lea Bridge Road sites in East London.

Following the bumper year, Andy Hill, Group Chief Executive at Hill, commented: “Our excellent results are testament to the determination and expertise of our growing team.

“Together we have firmly established ourselves as one of the top 15 housebuilders in the country with a reputation for delivering high-quality, distinctive homes. This year has been truly record-breaking and I am proud of the work we have completed together.”

Net profit also jumped by 21% at the developer last year, rising to £37.2m from £30.7m in 2015 putting it firmly on track for its £100m profit by the end of the decade.

Hill believes the results show that his company is heading in the right direction to meet its 2020 growth strategy, underlined by the market’s voracious apetite for new homes to meet demand.

He added: “We are continuing to invest in our staff to ensure that we have the right pipeline of talent and skills needed to deliver a growing volume of high quality homes.

“Our recent high-profile regeneration projects including Fish Island Village and the Stonebridge estate combined with our secured pipeline show we are cementing our position as one of the UK’s largest private housebuilders.”