Miller ‘may move into consultancy’

Speaking after the firm unveiled results for the six months to 30 June 2010 (below), Miller said the company planned to do more work at the front end of contracts and did not “see itself as a Bob the Builder”.

He said: “One of the things about the construction business is that £18m will be spent building something but £18m will be spent beforehand.”

Asked whether the company was on the hunt for a consultancy, he said: “We could consider it as we could consider a lot of things,” adding that Miller was “one of the few companies with an enviable track record of buying and selling businesses over the past 15 years”.

Chris Webster took over as chief executive of Miller Construction this week. He joined from infrastructure specialist Amey where he was chief operating officer. Miller said Webster’s appointment signalled the company’s desire to broaden its strategy.

In relation to the Comprehensive Spending Review in October, Miller said: “The threats are clearly there but we have a strong balance sheet and the impact will hopefully be less than on some others. We’re pressing hard on government so they don’t cut infrastructure.”

Speaking about Miller’s housebuilding arm, which contributed £162m of the group’s £338m turnover, Miller said it was too early to say whether weak summer trading would turn into a double-dip recession.

Lloyds Banking Group has a 20% stake in Miller. It recently disposed of its shares in Crest Nicholson, but Miller said: “I think that was a one-off deal as it had quite a complicated banking structure.”