Britain's sixth biggest housebuilder reports 拢36m interim profit as it considers acquisition
Privately owned construction group Miller has reported a 5% profit increase despite difficult housing market conditions.
Miller Group reported pre-tax profit of 拢35.8m for the six months to 30 June 2007, up from 拢34.1m in 2006. Turnover rose to 拢567.6m from 拢549.8m over the period.
The firm鈥檚 results were boosted by a strong performance in its property division, where profit rose 50% to 拢15.3m, and in construction, where profit leapt to 拢1.9m from 拢0.1m.
However, the group鈥檚 housing division felt the impact of the toughing market with a slight dip in profit, down to 拢44.4m from 拢47.1m.
Keith Miller, group chief executive, said that the company was raising its volumes in the south, northern home counties and west midlands, to improve efficiencies. He also said that an acquisition in the sector was a possibility.
Miller said: 鈥淚t is a tough market, but we are in good shape to grow our business.鈥�
No comments yet