Miller Group sales down 15%

Miller Group, the housing and construction specialist, reported sales in 2010 of £666m, down 15% from 2009, when its sales were £783m.

It made a loss before tax of £58m in 2010, an improvement on 2009’s loss of £72.4m.

Despite the housing market weakening in the second half of 2010, Keith Miller, Miller Group chairman, was optimistic there will be a recovery in 2011.

“Everything depends on the spring selling season but so far, so good.

“Visitor levels since the new year are up 18% on the same period last year,” he said.

During 2010, Miller reduced its net debt by £170m but it still stands at £500m.

There is a further £200m in debt in special purpose vehicles, primarily exposed to the commercial sector.