Yearly figures for the H&H Group PLC have been released for year ending 30th June 2021 and highlight improved performance within the group’s businesses.

The results show an overall operating profit of £1,532,000, which is up from £742,000 in 2020 and profit before tax stands at £1,223,000, increased from £330,000 in the previous year.

The H&H Group have a strong asset base, which has seen an increase from £19.4m in 2020, to the current £21m. With new measures in place to future proof the business, the board has recommended a dividend of 15p per share, in addition to the interim dividend of 5p per share announced in December. This makes a total dividend for the year of 20p per share, compared to 2020 where no final dividend was recommended to protect the Group for a turbulent economic climate.

Chief Executive Richard Rankin, Chief Executive, said: “During an unprecedented year, the Group and all its people have shown incredible adaptability, and as a result, has performed very strongly. 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 has improved its market share and the uplift in values has helped to build confidence in the agri-industry, especially in the beef and sheep sectors. The success in online marketing and selling has also continued, as both the team and customers embrace this new way of trading. Digital trading is now making significant contributions to this business, and we expect this to continue and evolve going forward.

“As a result of renewed focus, different thinking and further investments, H&H Insurance Brokers have demonstrated a strong bounce back in performance. Across the board, performances have exceeded expectations, particularly around new business targets.

“Through difficult trading conditions the teams in our Land Agency and Estate Agency business, H&H Land and Estates, performed exceptionally well to finish the year ahead of both budget and prior year’s results. The Stamp Duty holiday, combined with the escalating interest in rural homes and properties, have resulted in a notable increase in volume of work.

“The impact of Covid-19 has been most felt with H&H Reeds, our print, signage, graphic design, website developers and now digital marketing business. Tourism and hospitality represent a significant proportion of the customer base, so clearly this affected sales. However, from August of this financial year, activity has picked up back to pre-COVID levels.

“I am immensely proud of the whole team at the H&H Group for rising to the business challenges in such difficult times.”