According to the business, during the year its revenue rose 12% against 2019 to £651m and pre-tax profit edged up 4% to £44.3m. The business completed 1,960 homes, up from 1,800 the previous year. Its net cash position was £138m, up from 2019’s £60.5m.
Hill said that it had no borrowings and £224m of net assets and a landbank of more than 6,700 homes with pipeline opportunities to deliver a further 9,400.
The firm said that its success was driven by its joint venture partnerships with registered providers, local authorities and other commercial partners. In 2020 it launched a South West division, focusing on Bristol and surrounding areas.
With its commitment to sustainability and social value, the business also said it had developed an Environmental, Social & Governance (ESG) strategy which will “underpin the company culture and values”.
Under this, it aims to reach net-zero carbon in business operations and net-zero operational carbon in the homes it builds by 2030. It has also committed to achieving biodiversity net gain across its portfolio of land from this year.
Hill also intends to measure and report on its social value gain, ensuring that it has a positive impact on each community it works within. It has set targets for 2022 and beyond and will publish its first annual ESG report next year.
Andy Hill, Hill’s CEO, 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.”
“We take a long-term approach when making our strategic business decisions allowing us to adapt or modify in the short term as required by customers and clients, without losing sight of our wider vision: ‘To be the UK’s most trusted housebuilder creating exceptional homes and sustainable communities in the Hill Way.”
