Construction group enjoys tenth successive year of growth as profit increases 40% to £28m

Housebuilder and systems manufacturer Stewart Milne Group posted a 40% hike in pre-tax profit to £28m and a revenue increase of 30% to £283m for the year ending 20th June 2006.

The homes division generated sales of £180m, an increase of 26% from last year while the timber systems operations in Aberdeen and Oxford both saw an increase in activity level with total sales of £72m, 13% up on the previous year.

The group’s land bank now stands at 10,000 plots, an increase of 3000 plots from last year, and this is expected to increase further in the year ahead

Chairman and chief executive Stewart Milne, said: “This is the tenth year in a row of significant profit growth and we are greatly encouraged by this set of results. It has been achieved through the continued commitment and dedication of our employees across the whole of the group.”