Muir Group announces improved land positions as it declares year of solid results
The Fife based Muir Group has continued its steady advance with another year of solid results and improved land positions.
The company, which celebrated forty years of operation last year, saw profits advance in its Muir Homes division from £1,850,000 to £2,990,000 with house sales up from 135 to 144. Housing turnover moved from £21,900,000 to £24,700,000.
“We have been particularly pleased with the continuing success of our developments in Fife, namely Silverdykes in Anstruther and Castlefleurie in Leven,” said Peter Brogan, managing director of Muir Homes.
“These developments have been very popular with homebuyers from all over Scotland with Silverdykes presenting the opportunity to buy a second home for use as a holiday property in the ever popular East Neuk.”
“We have continued to release more of our luxury apartments at Deer Park Heights in Livingston, which is another proven location for us, with its convenient commuting links and close proximity to Edinburgh airport,” he said.
Mr Brogan stated that Muir Homes was delighted to have recently started work at its prestigious Blairs development at Royal Deeside, which offers some of Muir’s most exclusive larger villas.
“We have ensured a top class specification for the new properties at Blairs, including designer German kitchens and German sanitary ware,” said Peter Brogan. “The properties are also fully wired for the provision of audio, internet and home entertainment systems. We believe that this development combines a sought after location with some of the most prestigious and high quality new housing to be found in the North East.”
Muir Construction also showed a marked improvement with turnover up to £39.5 million from £36m and generating profit of £1.6m against last year’s small profit. The division reported that Aberdeen continued to improve with further prospects turning to contracts in this year and into 2015.
Hermiston Securities, the development arm of the Group, generated lower profits than last year but has much greater opportunities for 2014/15 from contracts in Perth and Aberdeen.
Muir Timber Systems continue to improve but over supply and lack of demand prevented a solid return for the year.
“The Government assisted Help to Buy (Scotland) scheme has turned the housing market for 2014/15,” said Muir Group chairman John Muir, “and this will secure a return to profitability for Timber Systems, which is great news.”
As Mr Muir outlined, the leisure industry has been the last element to show change following the tough recession but Muir Leisure’s Golf and Country Club at Deer Park, Livingston, part of the Group for over twenty years and home to the PGA Tartan Tour ranking Deer Park Masters, has started to follow the turn in the economy.
“We are confident that 2014/15 will see confidence returning to this sector,” said John Muir. Subject to planning, the Muir Group hopes to install a brand new entrance and reception area to Deer Park Golf & Country Club, along with other upgrades to the Club.
Overall the Muir Group has increased turnover from £66,600,000 to £73,600,000 and profits improved from £2,800,000 to £3,950,000. Staff numbers are beginning to show growth.
John Muir added: “My Board of Directors and I look forward to a further strong advance for 2014/15 with further improved housing sales and results.”