Miller profit doubles in bumper covid bounceback results - Housing Today
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Turnover tops £1bn in first results published since acquisition by Apollo earlier this year
Scottish housebuilder Miller Homes has reported stellar rises in profit and turnover in the first annual figures published since its takeover by US-private equity house Apollo at the start of the year.
Miller Homes Group said it reported revenue for the year of £1.
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The firm also bought a timber frame business in the year, Walker Timber, which Endsor said will supply timber frame homes for sale primarily in Scotland, while also providing “options for the roll-out of timber frame in England” which “supports our commitment to improving our sustainability credentials”.
Since the deal went through in March, Miller has announced the promotion of long-time chief operating officer Stewart Lynes to chief executive, with former chief executive Chris Endsor (pictured, right) becoming executive chair.
Chris Endsor said in the accounts the firm’s strategy was to “sustainably” grow the business over the next five years by around 50% to deliver 6,000 completions a year, adding that that the market in the year had “exceeded all commentators’ expectations”.
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