Logjammed system blamed for drop in income
South-east housebuilder Hill Group says it is committed to its plan to double the size of the business despite publishing results showing 2022 revenues hit by planning delays.
Hill said turnover last year fell 5% to 拢716m, down from 拢753m in 2021, with the firm blaming the decline on the gummed up planning system. The firm said pre-tax profit edged up 拢500,000 to a record 拢65.6m.
The firm did not set out in detail the nature of the planning challenges it faced but a spokesperson confirmed 鈥渙ur overall revenue has fallen from 拢753m in 2021 as a result of delays in planning鈥�.
The comments come amid increasing industry concern over the state of local authority planning, with low resourcing affecting the ability of councils to process applications, while proposed government reforms have caused a number of authorities to abandon or delay plan-making efforts.
Despite the setback on turnover, the Essex-based firm said in a statement 鈥渢he company continues to make progress towards its vision of doubling the size of its business by 2025 while growing headline turnover to 拢1.25bn鈥�.
The family-owned firm, headed by chief executive Andy Hill, said it built 2,203 homes in the calendar year, down from 2,318 in 2021, but oversaw a big expansion in its development pipeline to 8,500 homes, up from 3,300 the year before. Its wider landbank also grew to around 12,300 homes, from 8,300 the year before.
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