Hill reports 27% profit increase

Housebuilder Hill has announced a 13% rise in turnover for 2017, while net profits have increased by 27%.

Its annual results revealed that turnover reached £416m during 2017, with net profits rising to £47.2m.

Hill has also grown its pipeline of new private homes to £1.6bn.

A large part of the housebuilder’s 2017 success was driven by its investment in joint ventures.

Hill has worked with housing associations and local authorities in London and the Home Counties, which has enabled the delivery of high-quality homes at speed.

Andy Hill, chief executive at Hill (pictured above), said it remained focused on playing its part to deliver more homes to more people.

“The past year has seen us work more closely with local government and we believe this will enable us to achieve further outstanding growth in the coming years.

“We’re finding that many local authorities are keen to better utilise local land, but require our in-house resource and expertise to deliver at scale and speed.

“We’re able to act as a trusted delivery partner and extension of their team, ensuring that they are able to make best use of their assets and deliver on local needs.”

Hill’s 2020 strategy will see the business increase the number of new homes it completes to in excess of 2,500 per annum by the end of the decade.

“Our priority for the next year is to continue on our upward trajectory, undertaking larger joint venture projects with a key focus on estate regeneration and community creation,” added Andy.

“We’ve built up a reputation for delivering high-quality, distinctive homes and this year’s highlight was being awarded 5* housebuilder status in the HBF’s annual customer satisfaction survey.

“We also expect to take on a significant number of new staff later this year as we look to build further on our success.”

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