Net assets increased to 拢493.1m and net cash rose to 拢129.1 million, with no drawings against the group鈥檚 revolving Credit Facility. This, the group says, reflects its diversified operating model and the successful delivery of the first year of its new five-year growth strategy.
Land and work-in-progress increased to 拢733.9m as the group continued its policy of retaining the majority of annual profits to invest in future growth opportunities.
Hill invested 拢54.6m in new land acquisitions and strategic opportunities during the year, with commitments in place for a further 拢44.1m of future investment.
Hill鈥檚 development pipeline includes 10,800 homes with planning consent and a further 1,900 homes controlled on a subject-to-planning basis.
Hill鈥檚 long-term strategic pipeline includes 29,900 homes owned or controlled under option and promotion agreements. Combined, the group鈥檚 controlled pipeline has the potential to generate more than 拢14.5bn of future revenue. Hill鈥檚 contracting pipeline also increased during the year to more than 拢5.6bn, up from 拢4.8bn the previous year.
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