A BUSINESS group is celebrating making it through an 'unprecedented' year of challenges with an improved financial performance.

Yearly figures for the H&H Group PLC have been released for year ending June 30 2021 and highlight improved performance within the Group’s businesses - despite the numerous challenges of working in a Covid-restricted environment.

The results show an overall operating profit of £1,532,000, which is up from £742,000 in 2020.

Its profit before tax stands at £1,223,000, up from £330,000 in the previous year.

This achievement has been led by chief executive, Richard Rankin, who has brought in new, robust changes that have seen the team within each business of the H&H Group of Companies able to achieve such a high level of success.

The H&H Group has a strong asset base, which has seen an increase from £19.4m in 2020, to the current £21m.

With new measures in place to future-proof the business, the Board has recommended with confidence, a dividend of 15p per share, in addition to the interim dividend of 5p per share announced in December.

This makes a total dividend for the year of 20p per share, compared to 2020 where no final dividend was recommended to protect the Group for a turbulent economic climate.

Reflecting on the results Richard Rankin, chief executive, said: “During an unprecedented year, the Group and all its people have shown incredible adaptability, and as a result, has performed very strongly."

Mr Rankin said that there has been improvements across all areas of the business, from their farmstock auctioneers and insurance brokers to the land and estate agency and the marketing business Reeds.

Reflecting on the progress since 2020, Richard said: “I am immensely proud of the whole team at the H&H Group for rising to the business challenges in such difficult times.

"The talent and enthusiasm of the people have resulted in the Group performing incredibly well. Having a broad spectrum of businesses within the Group provides a huge range of skills and experience which has been invaluable for adjusting to new business environments.

"This demonstrates our commitment to the rural economy and our customers and provides a strong and positive foundation for future growth.

“We are also committed to investing in our people. We have a reputation for developing young staff through apprenticeships, and we continue to build on this across all the businesses. These opportunities will only grow, as we gain market share and expand our portfolio."