The acquisition of housebuilder Fairclough by Miller Group seems to have paid off, as it boosted interim pre-tax profit 29%.
Miller made a 拢36m pre-tax profit in the six months to 30 June. Fairclough helped to boost sales 67% to 1776 units.
Keith Miller, the group chief executive, said: 鈥淭he commercial property business has done pretty well, doubling its profits.鈥 Profit within the property business doubled to 拢10.2m on the back of a recovery in the commercial market both in investment terms and occupation.
In construction, operating profit rose 6% to 拢1.7m from 拢1.6m and it has a construction order book of 拢330m.
Miller was upbeat about prospects. He said: 鈥淐onstruction has never been busier, it鈥檚 in great shape. Traditionally the first half is never startling, it鈥檚 usually second-half biased.鈥
Miller would not be drawn on any specific acquisition plans but did say: 鈥淲e are looking at things all the time. We do want to grow this business.鈥
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