Expansion on course

Miller Homes hails ‘significant’ growth in uncertain climate

Chris Endsor, Miller Homes

Confidence: Chris Endsor

Despite “unprecedented political uncertainty” Miller Homes has reported a 10% increase in half year profit of £77.8m.

The Edinburgh-based housebuilder also posted a record level of forward sales, up 7% to £368m, while there was a 13% increase in core and joint venture completions to 1,684 homes for the six months ended 30 June. 

An operating margin of 20% was unchanged compared to the same time last year, while the return on underlying capital employed (ROCE) was 30.9% with c3,600 plots acquired in the last 12 months. 

The company remains on track to deliver 4000 homes by 2021 and chief executive Chris Endsor said: “Miller Homes has again achieved significant levels of growth, with volumes up 13% and operating profit 10% ahead in the first half of 2019.   

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