{"id":12575,"date":"2023-02-02T04:55:44","date_gmt":"2023-02-02T12:55:44","guid":{"rendered":"https:\/\/essential.construction\/news\/4-75m-building-work-provision-tips-higgins-into-the-red\/"},"modified":"2023-02-02T04:55:44","modified_gmt":"2023-02-02T12:55:44","slug":"4-75m-building-work-provision-tips-higgins-into-the-red","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/4-75m-building-work-provision-tips-higgins-into-the-red\/","title":{"rendered":"\u00a34.75m building work provision tips Higgins into the red"},"content":{"rendered":"<p> <a href=\"https:\/\/essential.construction\/files\/membership-default-internal\/\" class=\"memberhide\"><img decoding=\"async\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/01\/20220718_175041000_iOS.jpg\" alt=\"-\"><\/a><br\/><br \/>\n<\/p>\n<div id=\"post-471425\">&#13;<br \/>\n\t<!-- .entry-header -->&#13;<br \/>\n&#13;<br \/>\n&#13;<\/p>\n<div class=\"entry-content\">\n<p>The legacy jobs from the partnership side saw the group record a pretax loss of \u00a35.4m after a \u00a3200,000 profit in the prior year.<\/p>\n<p>Revenue in the year to July 2022 was up 39% to \u00a3210m, helped by a surge in post Covid lockdown activity.<\/p>\n<div class=\"ad-mpu ad-mpu-inline\">\n<div class=\"sleeve\"><a rel=\"nofollow noopener\" data-ad-id=\"470321\" href=\"http:\/\/www.constructionenquirer.com\/wp-content\/themes\/constructionenquirer\/adclick.php?url=https%3A%2F%2Fwww.limelightonlhoist.com%2Flevelblue%2F%3Futm_source%3Dconstruction-enquirer%26utm_medium%3Dbanner%26utm_campaign%3Dconstructionenq-ads\" target=\"_blank\" onclick=\"track_ad_click(this);\"><\/a><\/div>\n<\/div>\n<p>This saw average headcount jump by around 90 staff to 318 as the firm took expanded contract teams.<\/p>\n<p>Chairman Richard Higgins said: \u201cDuring the period it has become clear that some of the historic projects of the group were not built in accordance with the current interpretation of building regulations.<\/p>\n<p>\u201cIn all cases we have sought to cooperate with the clients to agree a strategy for rectification.<\/p>\n<div class=\"ad-mpu ad-mpu-inline\">\n<div class=\"sleeve\"><a rel=\"nofollow noopener\" data-ad-id=\"93789\" href=\"http:\/\/www.constructionenquirer.com\/wp-content\/themes\/constructionenquirer\/adclick.php?url=https%3A%2F%2Fwww.constructionline.co.uk%2Fproducts-services%2Fmemberships%2F\" target=\"_blank\" onclick=\"track_ad_click(this);\"><img decoding=\"async\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/02\/002- Constructionline-GIF-V2.gif\" alt=\"-\"><\/a><\/div>\n<\/div>\n<p>\u201cAn allowance has been made in the period of \u00a34.75m to cover the costs of these works across the relevant sites. \u201d<\/p>\n<p>He added that despite the present market challenges, Higgins was now reaping the benefits of steps taken in previous financial years to position itself more suitably for the future.<\/p>\n<p>He said: \u201cHiggins Partnerships and Higgins Homes have first class relationships throughout their operational area of London and the Home Counties and uses this to seek out strategic partnerships within the area.<\/p>\n<p>\u201cThe continued support of housing associations and local authorities has seen the group land multiple new opportunities.\u201d<\/p>\n<div class=\"ad-mpu ad-mpu-inline\">\n<div class=\"sleeve\"><a rel=\"nofollow noopener\" data-ad-id=\"470082\" href=\"http:\/\/www.constructionenquirer.com\/wp-content\/themes\/constructionenquirer\/adclick.php?url=https%3A%2F%2Fyoutu.be%2FrJA7cjMKgnQ%3Futm_source%3Dindustry-website%26utm_medium%3Dpost%26utm_campaign%3D2211-STR-UK-VI-ByLor-Hinkley-Point-C%26utm_term%3DConstruction-Enquirer%26utm_content%3DYouTube-video%3Futm_source%3Dconstruction-enquirer%26utm_medium%3Dbanner%26utm_campaign%3Dconstructionenq-ads\" target=\"_blank\" onclick=\"track_ad_click(this);\"><img decoding=\"async\" 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