Miller Homes targets 7,000 homes after record results surge | Construction Enquirer News
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Private equity owned house builder generates 75% pre-tax profit hike
The house builder, owned by US investor Apollo, turned in a sharp jump in 2025 trading, with pre-tax profit climbing 75% to £124m as turnover jumped by just over a third to £1.43bn. Completions increased 29% to 4,931 homes, including 779 delivered by St Modwen over the 11 months since the acquisition completed at the end of January last year. Adjusted operating profit rose 40% to £219m, while margin improved to 15.4% from 14.8%, underlining how the enlarged group converted higher volumes into stronger returns. Chief executive Stewart Lynes said the business had delivered “significant, profitable volume growth” despite the wider market backdrop, driven by the St Modwen deal and earlier land investment. The acquisition has given Edinburgh headquartered Miller a second private sales brand and expanded its routes to market across private, affordable, partnerships and joint venture delivery. Forward sales for the current financial year were up 40% at the year end to £635m, and have since moved on again to £907m, compared with £815m at the same stage last year. The land position also strengthened. Consented plots rose 19% to 16,329, while the strategic landbank expanded to 50,655 plots. Miller said it plans to submit planning applications for 30 strategic sites this year against just eight in 2025 to support growth from 2028 onwards. Cash at the year end stood at £232m, giving the group room to keep backing expansion. Lynes said Miller was now well placed to push on towards its ...
