Strong turnover and equity results for Hughes Bros


Hughes Bros Construction has recorded increased turnover and equity in its latest results. 

Hughes Bros Construction
Credit: Hughes Bros Construction.

Full accounts for the Darlington-headquartered firm made to 30 November 2022 saw a healthy rise turnover, stable profits and an increase in total equity value. 

This was against high interest rates and inflation and a lack of skilled labour.  


  • Turnover: £56.3 million (FY2021: £41.8 million) 
  • Gross profit: £23.9 million (FY2021: £18.5 million) 
  • Operating profit: £1.5 million (FY2021: £1.7 million) 
  • Profit before tax: £1.3 million (FY2021: £1.3 million) 
  • Profit for the year: £1 million (FY2021: £1.2 million) 

Cash (at the bank and in hand) was £1.2 million, compared to £1.4 million the previous year. 

Net assets and total equity were valued at £1.2 million (FY2021: £684,883). 

Ordinary dividends of £400,000 were paid. Directors did not recommend payment of a final dividend.  

“Increased interest rates hand in hand with high inflation are affecting the affordability of potential house buyers,” said the firm. “We have a strong client base consisting of PLCs, diversified into the social housing market, and offer services to private clients for bespoke one-off builds.” 

Adding: “Difficulty in finding skilled labour has become more apparent as our workload has increased.” 

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