<p>Housebuilder Hill has announced “record” revenue for 2019 although with decreased profits, while stating it is well capitalised in the face of the coronavirus pandemic.</p> <p>The privately owned housebuilder’s revenue climbed 16% to £583 million against 2018 while profits dropped 12% to £42.6 million. This slide was due to “cyclical factors” and planning delays, Hill explained.</p> <p>Meanwhile, the firm’s new home completions climbed 16% to 1,800. Of these, 1,120 were private sales and joint venture activities. </p> <p>The business has a secured pipeline of more than 6,500 homes; it plans to expand into the South West and some of its pipeline activity features schemes within its new region as well as new jvs with local authorities, housing associations and private companies.</p> <p>Hill said it was “poised for growth” with £270 million of secured banking facilities yet to be drawn down.</p> <p>It also said that later this month, it would launch a prototype unit for the Hill Group Foundation’s project of gifting 200 modular homes to homeless people, announced last year. The project – Foundation 200 – will see the business deliver one-bedroom homes on surplus land with local authority, housing association and local charity partners.</p> <p>“The financial commitment to delivering …