H&H Group, owner of H&H Borderway
Finance, has recorded a 50% jump in profit in 2011, thanks mainly
to its livestock auction business.
Based in Carlisle, H&H comprises eight
companies and posted more than £1m in profit in the last six months
of the year.
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The group also recorded £7.1m in turnover in
2011, up almost 45% on 2010, and has increased its staff numbers by
10% across the eight companies to 260.
The rise is attributed to the continuing
strength of meat prices, the addition of H&H Reeds Printers,
and the acquisition of Nicholson and Weston by land agency arm
H&H Bowe, now H&H Land and Property.
Group chief executive Brian Richardson said
there were growth plans for all eight companies, including the
recruitment of more staff to the land agency, investment in the
group’s livestock auction sites, and a targeted media campaign for
agriculture specialists H&H Insurance Brokers, which saw
premiums grow by 20% in 2011.
Although there were no specific plans for
investment in Borderway Finance or that of the group’s vehicle
auction arm, H&H is looking to expand in areas to complement
both businesses.
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By GlobalDataDavid Carruthers, MD of Borderway, is
confident, however, that business is picking up of its own accord,
citing “an increase in customer confidence – there’s been a bounce
in the market.”
richard.brown@vrlfinancialnews.com
