Building on success

Building on success

Miller Group continues recovery with former debt pile cut to £168.8m, down 16.4%.

Miller Homes completed over 2,000 homes, up 12%, with turnover up 24%, while Miller Construction has increased its turnover to £408.7m with a forward order book of £1.8bn.

Miller Developments strengthened its performance in Warrington and Aberdeen, while Miller Mining’s share of profits in Wales have fallen caused by a contraction of coal sales.

Chief executive Keith Miller said: “Miller Homes continues to benefit from increased demand, improving selling prices and a balanced sales mix, and is delivering increasing margins. In our Construction business we have taken the necessary steps to deal with the loss-making contracts.

The business is now focused on frameworks and aligned to clients with long-term programmes of work. Developments continue to perform well, underpinned by our longer term property assets. Mining has secured a full order book for 2014.

The Board is confident that Group performance coupled with our strong financial base means we will continue to generate further value. This is a strong set of results which provides an excellent base from which to plan the next stage of Miller Group’s development.”