SCOTTISH housebuilding giant Miller Homes has underlined its confidence in the prospects for the market after achieving a 22 per cent increase in annual profits to £109 million in 2017 from £89m.
Edinburgh-based Miller grew revenues by 20 per cent to £675m in 2017, when around a quarter of its sales were in Scotland.
The company has focused on the Central Belt to capitalise on strong demand for family homes in areas such as Glasgow and Edinburgh.
Chief executive Chris Endsor said the outlook still appears bright in the markets Miller focuses on, in spite of concerns about the potential fall out from Brexit.
“We entered 2018 with record forward sales and trading thus far in 2018 has continued to be strong,” he said.
Private equity firm Bridgepoint bought Miller in a £655 million deal in August that put a multi-million valuation on the holdings of the founding family.
Miller sold 2,775 homes in 2017, including 687 in Scotland. Miller sold 612 homes in Scotland in 2016.
The average selling price in Scotland was steady at £253,000. The UK average rose by 4% , to £239,000.
Miller had plots with planning consent for 2,626 homes in Scotland at the year end, up 21% on the end of 2016.
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