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Miller Group declares profitability across four divisions 14 March 2012

Building and construction concern Miller Group has confirmed a return to profitability in all of its four divisions in its full year results for the period ending 31 December 2011.

The Scottish private company said its housing division had turned a £0.9m profit in 2011, a vast improvement on the £17 million loss declared in 2010.

The company’s construction arm had an increase in orders of 29 per cent from £459 million in 2010 to £592 million in 2011, while its property arm announced 200,000 square feet of new lettings and £66m of property sales including joint ventures.

Miller Group’s mining arm saw a 25 per cent increase in coal sales to 987,000 tonnes from the 787,000 tones sold in 2010.

Keith Miller, group chief executive of Miller Group, said he was pleased to announce the results which show it has been “a year of substantial progress for the group”, with all four divisions contributing to the success of the business.

He added: “The Group is now in a position to create significant new business and we are looking to the future with confidence. We have made an excellent start to the year. In our homes business, reservation rates are 10 per cent ahead of the equivalent period in 2011.

“This year we will acquire 25 sites, many of which come from our strategic landbank and with margins that are significantly higher than those we have seen in recent years.

“In our construction business since the start of the year we have procured around £200m of orders in the health, education, and service and technology sectors. This reflects our broadened strategy to encompass framework contracts and lifetime asset management.”

 

 

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