Miller Properties has posted monetary effects for the six months to 30th June 2025 appearing a 28% build up in earnings and a 37% soar in pre-tax benefit.
Those are the primary figures to mirror Miller Properties’ £215m acquisition of St Modwen Properties, which finished on 31st January 2025.
The home-builder made a pre-tax benefit of £31.1m within the first part of 2025 (2024 H1: £22.6m) on earnings of £585.6m (2024 H1: £457.1m).
There was once additionally a 31% build up in working benefit to £85m (2024 H1: £65m) and a 22% build up in houses offered to two,033 (2024 H1: 1,669), with a three% build up in moderate promoting value to £289,000 (2024 H1: £281,000).
There was once additionally a 31% build up in web personal reservations because of higher gross sales retailers and a 23% build up within the consented landbank to 16,785 plots, up from 13,695 firstly of the duration.
Miller Properties’ order e-book is now value £1,298m, a 33% build up on a 12 months in the past.
Leader government Stewart Lynes stated: “I’m thrilled to record robust effects which reveal the good fortune of our expansion technique and our operational execution. Those are the primary effects to incorporate St Modwen Properties, which we got in January of this 12 months. I’m very happy with how that trade has carried out and its integration into the broader Miller circle of relatives.
“During the last 3 years, our regional markets have persevered to accomplish neatly regardless of more than a few difficult macro-economic headwinds. This gave us the arrogance to speculate round £1bn in new land, together with the landbank we got throughout the St Modwen Properties trade. The expansion in our strategic landbank has enabled us to extend our gross sales retailers, and we’re on the right track to finish the 12 months with round 100 retailers, having opened the 12 months with 70.
“Our three-tenure style accommodates of personal, reasonably priced and partnership houses, which can be constructed for the institutional condo marketplace. This guarantees that we ship a extensive spectrum of the housing marketplace to fulfill call for and various housing wishes. In the course of the St Modwen Properties acquisition, we have now added a 2d emblem to the trade, enabling us to extend output in step with web site from a median of 40 houses 3 years in the past to round 60 these days.
“Taking a look ahead, we have now an important strategic landbank of round 50,000 plots which is able to reinforce us to capitalise at the capability we have now throughout all our areas of turning in 7,000 houses a 12 months. We’re neatly situated to ship on the United Kingdom executive’s homebuilding objectives, enabled via certain reforms to the making plans machine.”
Were given a tale? Electronic mail information@theconstructionindex.co.united kingdom
