Higgins 51% growth and £1.1bn order book: delivery and risk notes for project teams
Reviewed by Tom Sullivan
First reported on The Construction Index
30 Second Briefing
Higgins Group has reported a 51% turnover increase to £315.1m for the year to 31 July 2025, with profit before tax rising to £1.05m and cash in the bank more than doubling to £24.9m while net debt fell by £20m to £14.7m. Higgins Partnerships delivered 189 homes across three new build projects in a predominantly “build year”, spent £7.3m on rectification works and holds remaining provisions of £3.9m. The group now carries a secured order book above £1.1bn and a development pipeline capable of generating over £600m.
Technical Brief
- Higgins Partnerships secured four new build projects plus three remediation schemes across London and the Home Counties.
- Seven framework appointments now cover new build housing, remediation and maintenance, diversifying future workload sources.
- Higgins Partnerships turnover rose 48% to £303m, with profit before tax at £8.94m.
- Higgins Homes achieved full sell-through of all available units despite a weak residential sales market.
- Only 189 homes were completed across three new build schemes in a deliberate ‘build year’ phase.
- Three specialist works projects were delivered alongside housing, indicating parallel non-residential or complex packages.
- Rectification expenditure of £7.3m, with £3.9m provisions remaining, signals ongoing legacy defect remediation.
- For contractors, the mix of remediation, frameworks and controlled completions illustrates a risk-managed growth model in volatile markets.
Our Take
Within our 294 Infrastructure stories, few UK contractors show Higgins Group’s combination of rapid turnover growth and active debt reduction, which signals a balance-sheet clean‑up that could position it well for prequalification on larger London and Home Counties frameworks.
The £1.1bn secured order book and £600m development pipeline around schemes such as Deptford Landings suggest Higgins Partnerships will be competing more directly with mid‑tier national housebuilders in London and Essex, rather than just local or regional players.
The £7.3m rectification spend and remaining provisions indicate that legacy defects are still a live issue; in our database, contractors with similar remediation profiles often face tighter scrutiny from social landlords and local authorities when bidding for new-build and remediation frameworks.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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