Miller Homes has posted financial results for the six months to 30th June 2025 showing a 28% increase in revenue and a 37% leap in pre-tax profit.
These are the first figures to reflect Miller Homes鈥� 拢215m acquisition of St Modwen Homes, which completed on 31st January 2025.
聽The house-builder made a pre-tax profit of 拢31.1m in the first half of 2025 (2024 H1: 拢22.6m) on revenue of 拢585.6m (2024 H1: 拢457.1m).
There was also a 31% increase in operating profit to 拢85m (2024 H1: 拢65m) and a 22% increase in homes sold to 2,033 (2024 H1: 1,669), with a 3% increase in average selling price to 拢289,000 (2024 H1: 拢281,000).
There was also a 31% increase in net private reservations due to increased sales outlets and a 23% increase in the consented landbank to 16,785 plots, up from 13,695 at the start of the period.
Miller Homes鈥� order book is now worth 拢1,298m, a 33% increase on a year ago.
Chief executive Stewart Lynes said: 鈥淚 am delighted to report strong results which demonstrate the success of our growth strategy and our operational execution. These are the first results to include St Modwen Homes, which we acquired in January of this year. I am very pleased with how that business has performed and its integration into the wider Miller family.
鈥淥ver the past three years, our regional markets have continued to perform well despite various challenging macro-economic headwinds. This gave us the confidence to invest around 拢1bn in new land, including the landbank we acquired through the St Modwen Homes business. The growth in our strategic landbank has enabled us to increase our sales outlets, and we are on track to end the year with around 100 outlets, having opened the year with 70.聽
聽鈥淥ur three-tenure model comprises of private, affordable and partnership homes, which are built for the institutional rental market. This ensures that we deliver a broad spectrum of the housing market to satisfy demand and diverse housing needs. Through the St Modwen Homes acquisition, we have added a second brand to the business, enabling us to increase output per site from an average of 40 homes three years ago to around 60 today.
鈥淟ooking forward, we have a significant strategic landbank of around 50,000 plots which will support us to capitalise on the capacity we have across all our regions of delivering 7,000 homes a year. We are well positioned to deliver on the UK government鈥檚 homebuilding targets, enabled by positive reforms to the planning system.鈥�
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