Financial Information
| 2009 (£ '000) | 2008 (£ '000) | |
| Turnover | 224,884 | 217,752 |
| Profit on ordinary activities before tax | 1,046 | 641 |
| Equity Shareholders' Funds | 50,044 | 52,179 |
| Number | Number | |
| Number of employees | 416 | 512 |
Extract from the Chairmen’s Statement:
"In a year during which market conditions have remained extremely challenging I am pleased to report a profit before tax of £1 million from sales of £225 million. A strong focus on generating cashflow has driven net debt down by 67% and established the firm foundations from which the Group can grow and develop as the economy improves.
Higgins Homes increased plot sales by 42% in the year – demonstrating the underlying demand for a well designed and realistically priced property. Enquiries increased sharply at the start of 2009 and are continuing at encouraging levels – though a lack of mortgage availability continues to frustrate many purchasers’ ambitions. We will continue to phase production to match demand and are actively looking to secure further development sites.
Higgins Construction has a strong order book across the new build, refurbishment and education sectors. Much of our work is for repeat clients and the ability to complete projects on time and within budget will lead to further opportunities.
Through the strong established brands of Higgins Construction and Higgins Homes our clients, current and future, have the opportunity to access all the specialisms required for mixed tenure schemes. These schemes offer a sustainable combination of private and social housing and create maximum value to the social housing provider.
Higgins Group’s highly professional and hard working team remains fully focused on maintaining a sound financial base and maximising all areas of its market activity."
- R G Higgins, ACIOB,
Chairman
28th October 2009
Please click a link below to download company reports and accounts.
