Carlisle-based H&H Group PLC has released its annual results for the year ending 30th June 2023.
The figures show an increase in overall turnover and profit, as well as a significant dividend return for shareholders.
Overall turnover was £19 million with an operating profit of £1.88m, up from £1.78m in 2022.
However, profit before tax fell to £1.412m compared to £1.509m the previous year.
The H&H board unanimously recommended a final dividend of 15p to be added to the interim dividend of 5p to be paid out to shareholders in November.
H&H Group chief executive Richard Rankin said: “In these challenging times this is a fantastic performance proving the resilience of the group and the strength of its diversified business model.
“This business continues to grow its footprint and market share and establish itself as the clear market leader, both in terms of size but more importantly the depth of expertise we offer.
“We saw another strong and consistent year from the award-winning H&H Insurance Brokers team, building more success on solid foundations. Together with the successful Tynedale acquisition, we have continued to invest in people and geographical expansion.
“Our land and property business, H&H Land & Estates, has experienced a year of mixed fortunes. Once again, our land agency team have pulled out another strong performance in the face of a drastically changing financial landscape and huge uncertainty in the sector.
“The housing market did nothing to help our estate agency business but, with the exception of one location, we managed to hold our own against the competition. This was not enough to avoid making losses, but we have made significant structural changes and key leadership appointments, which has reduced our cost base to make us more robust during these difficult times.
“The performance of all our businesses depends on the quality and commitment of our people, and this year’s performance is a testimony to them all.
“Our investment in the upskilling and development of our teams across the whole group is paying dividends, and we’ve continued to recruit the very best to support this growth.
“We have also benefited from our investment in the future with our commitment to apprenticeships and it has been very rewarding to see many apprentices moving into more responsible positions within the operating companies.
“While it is impossible to predict the future with any accuracy, the past year has proved that the H&H Group has the resilience, the drive, the leadership and the people to adapt to change and challenge, and we have every confidence in our ability to continue our growth and expansion financially and geographically in the coming years.”
