Profits up at H&H auctioneers and land agents

Pre-tax profit more than trebled at auctioneering, estate agency and insurance business H&H Group in the year ending 30 June 2021.

Profit before tax rose to £1.223m, compared with £330,000 in the previous year. Turnover increased to £14.69m compared with £13.53m in the year to June 2020, while an overall operating profit of £1.53m was reported, up from £742,000 the previous year.

Chief executive Richard Rankin said: “During an unprecedented year, the group and all its people have shown incredible adaptability, and as a result, has performed very strongly. 

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“This has been a positive year in almost every respect for Harrison & Hetherington Farmstock Auctioneers with both volumes and prices up on prior years.”

The farmstock business improved its market share, and digital trading is making significant contributions to the business, he said. The insurance arm had bounced back strongly, returning to profitability and with an increase in staff numbers.

The land and estate agency arm, H&H Land and Estates, finished the year ahead of both budget and the prior year’s results, with the stamp duty holiday and escalating interest in rural homes and properties resulting in a notable increase in volume of work.

Ahead of the introduction of the Environmental Land Management scheme, new team members and roles are being appointed, particularly covering forestry and carbon offsetting.

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