HG Construction reports record turnover of £243m

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record turnover
Chris Benham

Leading design and build contractor HG Construction Ltd has reported a record turnover of £243m in 2021

A 9.4% gross margin (10.2% in 2020) was recorded from business operations in 2021, with an additional contribution to the gross margin from the internal group of companies. 

HG Construction’s investment into its groundworks, Mechanical and Electrical (M & E), offsite manufacturing, plant and piling divisions has driven a lower overhead cost base, enabling it to manage risk and achieve cost certainty on projects, despite challenging market conditions.

Adam Quinn appointed as HG Construction CEO

record turnover
Adam Quinn

This year the company announced changes to its management structure with founder and chief executive Chris Benham adopting the role of executive chairman and Adam Quinn taking up the position of Chief Executive from 1st July 2022.

The company recently celebrated 22 years of business building up a stellar reputation in Residential, Student Accommodation, Commercial and Hotels schemes across the UK.

Whilst the company historically focused on building projects in London and the South East., this year, HG secured its first contract in Leeds – a 32 storey student accommodation scheme for SCAPE.

HG’s portfolio of clients includes:

  • SCAPE
  • Southern Housing Group
  • Pocket Living
  • Argent Related
  • Clarion Housing Group
  • Alumno, Landsec
  • Meadow Residential
  • McLaren Property

HG currently employs 300 people and has offices in Hitchin and London.

Strong set of financial figures

Chris Benham, group chief executive, said: “We are pleased to report a very strong set of financial figures over what was an extremely difficult period and would like to congratulate the entire HG team for their hard work and dedication.

“We have invested significantly across the company over the past 10 years, and this has enabled us to remain competitive in the marketplace whilst continuing to deliver the best possible value for our clients

“Our rigorous approach to cost management combined with our self-delivery capabilities and flat structure underpins our ability to successfully navigate turbulent market conditions.

“It has been an exciting period of growth for the company, and I am pleased to announce Adam Quinn’s appointment as CEO as we move into a new phase with our sights firmly set on further growth into existing and new sectors.

“Since we founded the company in 2000, we have put the ethos of customer satisfaction and collaboration at the heart of what we do, and these values remain true today.

‘Record turnover places us in a robust position’

“Along with an exceptionally skilled and hard-working team, our strong balance sheet and record turnover places us in a robust position and we look forward to new collaborations in the year ahead.”

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