Stewart Milne Group eyes further growth with robust results

Aberdeen-based Stewart Milne Group has said it is in a strong position to capitalise on further growth after reporting increases in both turnover and profit.

Annual results for the year to 30 June 2015 showed that the housebuilder and timber frame manufacturer, which is celebrating its 40th year in business, increased Group turnover to £252 million from £210m and operating profits to £14.4m against £14.1m the previous year.

Chief executive Glenn Allison said: “We are very pleased with the operating performance of the Group. These results show our continuing position as one of the leading independent housebuilders in the UK. We continue to grow our housebuilding activity across the UK and our timber systems business has again grown strongly in all regions of the country.

“The Group is continuing with its strategy of focussed growth in all of its geographical areas of operation. These results demonstrate the leadership and hard work that have gone into driving the business forward. We will continue to seek to enhance our products, provide an excellent service to our customers and invest in both the development of our people and the local communities we operate within. We are delivering on our commitment to growth and upholding our core values of customer service and quality.”

Mr Allison pointed to the highlights of the last year which included launching a significant number of new developments across the country and progressing the flagship community at Countesswells, to the west of Aberdeen.

Stewart Milne Homes has recently launched five new developments in north-west England at Adlington, Alsager, Davenham, Malpas, and Widnes and will bring new developments to market in Scotland this year in Auchinloch, Houston, Renfrew and Strathaven.

Work on its landmark new community near Aberdeen, Countesswells, will begin in April 2016. The Group has secured an HM Treasury UK Guarantee for £86m for the new settlement that will deliver 3,000 homes with three schools, leisure and healthcare facilities, parks and employment land over the next 15 years.

Stewart Milne Timber Systems has increased its market share in the UK and achieved a significant increase in contracts from the UK’s major house builders, including a group wide contract with Barratt Developments plc.

Mr Allison said the Group is in a strong position to capitalise on further growth opportunities in line with its strategic plan.

He added: “Our prudent approach and long-term planning continue to deliver in line with our long term strategy. Key to our growth is our strong culture, which has customers at its heart and is built on coaching and empowering our people to retain and enhance expertise and loyalty.

“With our approach to deliver places and homes our customers want to live in and UK housebuilders increasingly turning to offsite construction and our innovative timber systems products to support delivery of housing demand, we are in great shape to capitalise on growth opportunities in a sustainable way.”

The Group employs more than 900 people in Aberdeen, Edinburgh, Glasgow, Manchester and Oxford and continues to invest in apprentices with over 45 apprenticeships across the business.