Partnerships powers Higgins into £1.1bn workload
AI Article Summary
Higgins Group's Partnerships division has driven significant growth, increasing turnover by 51% to £315 million and raising its secured order book to over £1.1 billion. Despite challenges in the housing market, the division achieved £303 million in revenue and nearly £9 million in pre-tax profit, primarily from regeneration, remediation, and new build projects. The group also saw increased cash reserves and reduced debt while maintaining profitability, leveraging its robust development pipeline. With a strong future workload and development capacity, Higgins Group forecasts continued income generation.
What This Means for Canadian Contractors
This project shows how a strategic focus on partnerships can significantly enhance a company's growth and stability. For Canadian builders, this means exploring diverse project types and partnerships to navigate challenging markets effectively and maintain profitability. Understanding and leveraging a diverse development pipeline could lead to improved financial performance and sustainability in volatile housing markets.
