Fife-based Muir Group has continued its steady advance with another year of solid results and improved land positions.
New accounts published at Companies House yesterday show the company, which celebrated 40 years of operation last year, saw pre tax-profits leap 55% in its Muir Homes division to £2.877 million, with house sales up from 135 to 144.
Housing turnover rose 13% to £24.7m.
Peter Brogan, managing director of Muir Homes, said: “We have been particularly pleased with the continuing success of our developments in Fife, namely Silverdykes in Anstruther and Castlefleurie in Leven.
“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.”
Muir Homes recently started work at its Blairs development at Royal Deeside, offering larger villas on the site to the west of Aberdeen.
In the Muir Group parent company, turnover rose 10.5% to £73.6m and pre-tax profits increased 38% to £3.95m.
Muir Construction also showed an improvement, with turnover up 9.7% to £39.5m and generating profit of £1.6m. The division reported that Aberdeen continued to improve, with further prospects turning to contracts next year.
Hermiston Securities, the development arm of the group, generated lower profits than last year but has greater opportunities for 2014/15 from contracts in Perth and Aberdeen.
Muir Timber Systems continues 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 group chairman John Muir.
“This will secure a return to profitability for Timber Systems, which is great news,” he added.
The leisure industry has been slow to show change following the tough recession, but Muir Leisure’s golf and country club at Deer Park, Livingston 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,” the chairman said.
The Muir Group hopes to install a new entrance and reception area to Deer Park, along with other upgrades to the club.
Mr 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.”
The family owned group headquarters are in Inverkeithing.