Miller profits soar on recovery at housing arm Housebuilder Miller Group has delivered a sharp increase in half-year profits, driven by a marked improvement in the property market. The Edinburgh-based firm said pre-tax profits for the six months to the end of June soared to £4 million, from just £400,000 a year earlier, as total revenues grew 27 per cent to £361.5m. Turnover at its housebuilding arm was flat at £125m as the number of units completed held broadly steady at 819, but operating profits leapt 50 per cent to £6.6m as newly-acquired sites generated better margins. Although losses at its construction division widened to £2.4m, from £800,000 a year ago, amid an "extremely competitive" market for new contracts, revenues jumped 70 per cent to £193m on the back of last year's "strong" order book. Chief executive Keith Miller said: "We have seen a marked improvement in the housing market during the first six months, assisted by the Funding for Lending scheme, with further stimulus provided by the Help to Buy scheme, as well as an improvement in the UK mortgage market. The board is confident that the group's performance will meet its expectations for 2013.