Perhaps Gloucestershire's biggest and most influential property firm, Robert Hitchins, has announced turnover leapt for its last financial year from £27.3 million to £89.3 million.
Operating profit at the Boddington-based business also increased – from £10.8 million the previous year to more than £36 million, with profit after tax rising from £8 million to £27.7 million.
The figures were revealed in the county firm's just-published annual report, for the year ending 31 March 2022.
Jeremy Hitchins, managing director of Roberts Hitchins, which is behind some of the biggest developments in Gloucestershire, said: ‘The profit was underpinned by a large development land sale, but the company also sold several smaller land parcels and two commercial sites. The company has continued to develop its business and trade profitable following the year end.'
The leap in turnover was closer to the figure Robert Hitchins reported two years previously for its year to the end of March 2020, of £26.1 million.
The firm said that Covid-19 had not significantly affected its activity during the year to the end of March 2022, other than to slow down some transactions, and despite the planning process becoming ‘more protracted’ it was in a good position for the future.
'The company intends to be at the forefront as the economy builds itself out of recession', said Hitchins.
The business, which has less than 50 staff, has just overseen the completion of the new 74,000 square foot Dobbies Garden Centre at Ashchurch off Junction 9 of the M5, a scheme that also includes 850 new homes adjacent to the site, and is behind the major housing development to the North of Gloucester.
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