Higgins increases profit as turnover tops £300m

Family-owned contractor Higgins stayed in the black last year as the residenitial specialist said turnover jumped by more than half.

The Essex-based firm, which had been hit by two successive years of losses in 2022 and 2023 caused by delays on schemes because of second staircase rules and building remediation work, saw pre-tax profit climb to just over £1m from £280,000 for the year to July 2025. Income during the period raced ahead, climbing by 51% to £315m.

It said it spent £7.3m on “rectification works” on legacy schemes during the year and added that it had earmarked a further £3.9m for remaining repairs.

It added: “Despite the challenging market both sales rates and values were broadly in line with expectations. Robust sales demonstrate the quality of the homes developed and provide positive assurance homes are both desirable and located in places purchasers wish to live.”

But in a note accompanying the accounts, the firm said jobs were continuing to take time to get off the ground. “The requirements of the Building Safety Regulator coupled with a challenging planning system has created uncertainty resulting in delayed project starts, particularly in London.”

Higgins said its cash position at the year-end had risen more than £15m to £25m while debt had reduced from £20m to £14.7m.

Meanwhile, the firm said its Higgins Homes subsidiary had entered a not guilt plea after being charged with corporate manslaughter in relation to a fatal accident that occurred on a Higgins Homes site nearly eight years ago.

It said: “Higgins Homes continues to enter a plea of not guilty for all charges and the directors believe that there is a strong defence.”

The case relates to the death of pedestrian Michaela Boor, 28, who was struck by a pallet containing more than two tonnes of bricks that fell from a tower crane at a Higgins Homes building development in Bethnal Green on 27 March, 2018. She died in hospital the following day.

A trial is due to begin later this year. 

Higgins placed 93rd in Building’s Top 150 Contractors & Housebuilders list last year, which is ranked by turnover. It rose 28 places compared to the previous year.