Miller Homes sees “record” 2025

Miller Homes has declared a “record year” for the business, with profit, turnover and completions up and the housebuilder progressing towards a target of 7,000 homes.

During the year ending December 31 2025, Miller, which completed its acquisition of St Modwen Homes in early 2025, saw a 29% increase in completions to 4,931 compared to the previous year, of which of 779 were from St Modwen.

Pre-tax profit surged 74.5% to £124.1 million.

Turnover grew 34% to £1,425 million with adjusted operating profit improving 40% to £219 million. Adjusted operating margin increased slightly by 0.6% to 15.4%.

Miller’s average selling price lifted 4% to £295,500.

It said its performance was powered by the successful integration of St Modwen Homes, continued investment in land and the expansion of Miller’s multi‑tenure model.

For the current financial year, forward sales have increased 40% to £635 million. The business grew its consented landbank in 2025 by 19% to 16,329 plots.

At the same time, Miller said its latest year to date private sales were 9% down on the prior year. It cited a “slow January”, with an improvement in March when private sales were 4% down.

Net private reservations in the …