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Financial Group Summary

  2017*
£m
2016
£m
2015
£m
2014
£m
2013
£m
Group revenue 675.2 565.3 499.6 387.5 326.3
Gross profit before exceptional items 170.8 142.8 114.1 76.9 53.1
Operating profit before exceptional items and financing costs 130.1 103.0 78.4 44.5 22.9
Operating margin 19.3% 18.2% 15.7% 11.5% 7.0%
Profit (loss) before tax 109.3 89.3 62.0 36.4 6.9
Capital employed 463.5 441.9 406.6 376.3 384.8
Return on underlying capital employed** 33.0% 30.3% 27.5% 16.2% 8.4%
Unit sales  
Core completions 2,698 2,380 2,153 1,896 1,684
Core completions plus joint ventures  2,775 2,420 2,174 1,918 1,707
Average selling price (£'000) 239 231 227 200 181

 

*The 2017 full year results have been prepared on a proforma basis following the acquisition by Miller Homes Group Holdings plc of Miller Homes Holdings Limited on 5 October 2017.  Accordingly, the proforma results reflect the 9 month pre-acquisition result of Miller Homes Holdings Limited as extracted from its audited financial statements and the 3 month post acquisition result of Miller Homes Group Holdings plc, excluding one-off transaction fees and fair value adjustments.  The prior year figures are extracted from the audited financial statements of Miller Homes Holdings Limited.

**Return on underlying capital employed represents 12 month annualised operating profit divided by the average of opening and closing capital employed, adjusted for non-operating deferred tax and shared equity loans.