Housebuilder also sees rise in completions
Miller Homes has recorded an increase in profit and revenue in its first financial results since it bought St Modwen Homes.
The housebuilder’s results for the six months to 30 June 2025 showed revenue had increased from £457m to £586m.
Meanwhile, pre-tax profit for the period stood at £31.1m, up from £22.6m in the same period the year prior. Operating profit was up 31% to £85m.
Chief executive Stewart Lynes said he was “pleased” with how St Modwen Homes, which was acquired in January, had performed and its “integration into the wider Miller family”.
“Over the past three years, our regional markets have continued to perform well despite various challenging macro-economic headwinds,” he said.
“This gave us the confidence to invest around £1 billion in new land, including the landbank we acquired through the St. Modwen Homes business.”
Miller’s completions in the period were also up, from 1,669 to 2,033, and it saw a 22% increase in homes sold to 2,033.
Its consented landbank now includes 16,785, compared with 13,695 in December 2024.
“Looking forward, we have a significant strategic landbank of around 50,000 plots which will support us to capitalise on the capacity we have across all our regions of delivering 7,000 homes a year,” said Lynes.
“We are well positioned to deliver on the UK government’s homebuilding targets, enabled by positive reforms to the planning system.”
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