<\/p>\n
Stewart Lynes: milestone year<\/p>\n
Miller Homes, the UK\u2019s sixth biggest housebuilder and largest in the private sector, has not yet seen any impact on sales from the Iran war following a record year.<\/p>\n
The group posted a 40% increase in adjusted operating profit to \u00a3219m for the year to the end of December (FY 2024: \u00a3157m).<\/p>\n
It has seen a 40% increase in forward sales for the current financial year to \u00a3635m (FY 2024: \u00a3455m).<\/p>\n
Its performance last year was boost by the integration of St Modwen Homes, investment in land and expansion of the group\u2019s multi-tenure model.<\/p>\n
Markets are expecting higher inflation and interest rates if the war is prolonged, and some mortgage providers have already increased borrowing charges.<\/p>\n
Miller chief executive Stewart Lynes said: \u201cWe are monitoring the economic effects of the Middle East conflict. <\/p>\n
\u201cOur digital sales and marketing system provides granular lead indicators, which to date show no adverse impact, and we stand ready to respond swiftly should conditions change.\u201d<\/p>\n
He described 2025 as a \u201cmilestone\u201d year, adding: \u201cWe achieved significant, profitable volume growth despite the macro\u2011economic backdrop, driven by the successful acquisition of St Modwen Homes in January and the benefit of sustained organic land investment.<\/p>\n
\u201cThe St Modwen Homes acquisition introduced a second private brand to our portfolio, providing us with four routes to market, and expanded both our consented and strategic landbanks. Achieving a five-star rating from HBF for the 14th\u00a0time in 15 years further demonstrates our strong and consistent focus on delivering for our customers.<\/p>\n
\u201cWe are well\u2011positioned to deliver further profitable growth as we progress towards our 7,000 homes target supported by our enlarged landbank and multi\u2011tenure approach.\u201d<\/p>\n
Highlights<\/p>\n
29% increase in completions to 4,931 (FY 2024: 3,813)<\/p>\n
34% increase in turnover to \u00a31,425m (FY 2024: \u00a31,060m)<\/p>\n
40% increase in adjusted operating profit to \u00a3219m (FY 2024: \u00a3157m)<\/p>\n
40% increase in forward sales for the current financial year to \u00a3635m (FY 2024: \u00a3455m)<\/p>\n
7% increase in return on capital employed to 29.9% (FY 2024: 22.9%)\u00a0<\/p>\n
0.6% increase in adjusted operating margin to 15.4% (FY 2024: 14.8%)<\/p>\n
4% increase in average selling price to \u00a3295,500 (FY 2024: \u00a3282,900)<\/p>\n
19% increase in our consented landbank to 16,329 plots (Dec 2024: 13,695)<\/p>\n
\t #Miller #Homes #sales #unaffected #Iran #war #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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