H&H Group has just released its interim results for 2021, which show a positive outlook and continue to build on last year, despite the COVID-19 pandemic.

The Group’s EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) amounted to £1,554,000 for the six months to December 31 2020, which resulted in a profit before tax of £1,042,000 against £302,000 for the corresponding period in 2019 on Turnover which increased by over six percent from £7.2 million to £7.6 million.

Richard Rankin, Chief Executive, said: “I am pleased to report that despite the challenging set of circumstances from the Pandemic, these are a fantastic set of results, and huge testament to the team and the hard work everyone has put in. We are well ahead of our budget for the first half of the year, which, given the current unprecedented context we find ourselves in still represents a 50 percent uplift in our profits over 2019. This is even after discounting the monies received through furlough and the rates relief we’ve enjoyed, and validates the strategic goals we set ourselves a year ago.”

“All of our businesses and people have made significant adjustments to continue trading in compliance with COVID-19 restrictions. However, this ability to adapt quickly has ensured our continued success in steering our business through these circumstances, together with the abovementioned financial aid of CJRS/Furlough and Rates Relief assistance.

“Harrison and Hetherington, our farmstock business, has benefitted from both improved values and increased volumes. It has been continuing to adapt and refine new ways of working both through the marts and digitally during the challenging times.

“The business shows additional turnover in excess of £600K over 2019, and it continues to grow strength and develop its market presence.”