Newspaper article The Journal (Newcastle, England)

Record Year of Profits for H&H

Newspaper article The Journal (Newcastle, England)

Record Year of Profits for H&H

Article excerpt

Byline: LIVESTOCK Ruth Lognonne ? 0191 201 6139 ? ruth.lognonne@ncjmedia.co.uk

HIGHER livestock prices coupled with company acquisitions have ensured a record year of profits for Carlisle-based H&H Group.

The group, which operates across the North of England, has announced profits for the year of PS1.4m, a rise on last year's PS1.2m. Its turnover also grew from PS11.5m to PS14m within the year.

With its roots dating back to the late 19th Century, the company is made up of eight businesses including chartered surveying, estate agency, financial services and printing.

However, the group is best-known for livestock auctioneering and its growth in turnover has been attributed to a combination of higher livestock prices as well as a higher throughput.

Chief executive Brian Richardson said: "As a group, we have been working hard to develop all our business interests and we now operate across a number of sectors which all have great potential for future growth.

"We are, of course, best-known for livestock auctioneering and have more than 140 years of heritage operating the UK's leading livestock centre.

"We saw record turnover through our livestock centres with over PS120m for the very first time.

"The increase in turnover indicates a gain in market share, certainly an achievement in such a competitive market. We are well-known for our pedigree livestock sales and we sold a Limousin bull for a record-breaking price this year."

Capital expenditure for the year was PS1.6m with continued investment in facilities.

With its 140-year-old heritage in auctioneering, the group has developed its other corporate interests within chartered surveying, estate agency, financial services and printing.

During the past 12 months H&H Group has increased its workforce by 12.5% and it currently employs more than 280 members of staff. …

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