Higgins Group Plc has announced its financial results for the period ending 31st July 2025, with the Group performing well in what has continued to be a challenging market. The results are also underpinned by a strong pipeline of future work.
For the year, the Group reported an increase in turnover of 51% to £315.1m (2024: £208m), with profit before tax at £1.05m (2023/2024: £0.28m). Higgins Partnerships also reported an increase in turnover of 48% to £303m (2023/2024: £204.7m) and a profit before tax remaining strong at £8.94m (2023/2024: £9.1m).
The period saw the Group secure four new-build projects and three remediation schemes across London and the Home Counties. In what has been a challenging sales market, Higgins Homes sold all available properties across its developments within the year. Alongside this, the business secured positions on seven frameworks to deliver a diverse pipeline of new build housing, remediation and maintenance work.
Through the robust management of working capital, the Cash in Bank position at year-end increased to £24.9m (2023/2024: £9.4m). Similarly, overall debt was reduced by £20m to £14.7m as the business sold well across remaining homes.
Declan Higgins, Chief Executive Officer for Higgins Group, commented: “The Group’s ability to maintain profitability in a difficult market demonstrates the strength of our business and the quality of our development pipeline. By responding effectively to changing conditions, the Group has continued to deliver growth.
“We have a strong, diverse future workload with a secured order book in excess of £1.1bn and a development pipeline, including land under our control, capable of generating income in excess of £600m.”
During the year Higgins Partnerships experienced a predominantly ‘build year,’ with many projects scheduled for completion in the 2026 financial year and beyond.
As such, a total of 189 homes were completed across three new-build projects (2023/2024: 520 homes across eight projects), together with the delivery of three Specialist Works projects. Spending on rectification works totalled £7.3m, demonstrating the value the business places on its existing relationships and ongoing commitments to legacy projects to comply with the latest interpretation of building regulations. The closing total of remaining provisions remains at £3.9m.
Over the year, the Group strengthened its approach to ESG, focusing on reducing environmental impact while prioritising the well-being of its employees, partners and the communities in which it operates.
This commitment is integral to how the Group delivers projects safely, on time and on budget, with health and safety and community impact remaining central considerations.
For further information about Higgins Group please visit www.higgins-group.co.uk
Header image: Deptford Landings in partnership with Peabody
