Record full year results underscore success of Miller Homes growth strategy

Miller Homes, the UK’s 6^th largest housebuilder and largest private housebuilder, has published full-year results for the year ended 31 December 2025, delivering a record year for the business. Performance was driven by the successful integration of St. Modwen Homes, continued investment in land and the expansion of the Group’s multi‑tenure model.

The business achieved significant growth across all key metrics, demonstrating the effectiveness of its long‑term strategy and strengthening its platform for future expansion.

Highlights

• 29% increase in completions to 4,931 (FY 2024: 3,813)
• 34% increase in turnover to £1,425m (FY 2024: £1,060m)
• 40% increase in adjusted operating profit to £219m (FY 2024: £157m)
• 40% increase in forward sales for the current financial year to £635m (FY 2024: £455m)
• 7% increase in return on capital employed to 29.9% (FY 2024: 22.9%)
• 0.6% increase in adjusted operating margin to 15.4% (FY 2024: 14.8%)
• 4% increase in average selling price to £295,500 (FY 2024: £282,900)
• 19% increase in our consented landbank to 16,329 plots (Dec 2024: 13,695)

Commenting on the results, Chief Executive, Stewart Lynes, said:

“2025 was a milestone year for Miller Homes, and I am delighted to report strong results that reflect the effectiveness of our growth strategy and disciplined operational execution.

“We achieved significant, profitable volume growth despite the macro‑economic backdrop, driven by the successful acquisition of St. Modwen Homes in January and the benefit of sustained organic land investment.

“The 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 14^th time in 15 years further demonstrates our strong and consistent focus on delivering for our customers.