Surge in profits
Miller Homes reports ‘outstanding year’
The firm generated pre-tax profits up 44% to £89.3 million in 2016 on a 13% rise in revenues to £565m.
It completed 2,380 units during the year, an increase of 11% on 2015’s total.
Mr Endsor said the group had achieved its 2017 operating margin target of 18% a year ahead of plan. Operating profit rose above £100m for the first time, at £103m.
“The experience after the [EU] vote in June is that we saw a very strong housing market that continued in all of our regions, including Scotland,” he said.
“Our second-half sales were substantially up on the prior year and we didn’t miss a beat.”