Fife based Muir Group’s near ten fold rise in pre-tax profits

The Inverkeithing based company reported significant progress across its portfolio, despite facing challenging markets.

Muir Group’s turnover increased by 30% to £113.9 million and profit before tax exceeded £3 million. The results represent a significant improvement on the previous year, when the group recorded turnover of £87.4 million and profit before tax of £320,000.

The strongest performance came from Muir Construction, where turnover reached £85.7 million and profit before tax more than doubled from £2.2 million to £4.8 million.

Its continued focus on delivering high-quality projects on time and within budget contributed to improved customer satisfaction, while safety scores also increased across its sites. The business enters the new financial year with a healthy supply of contracts secured, although inflationary pressures, labour shortages and a highly competitive market continue to place pressure on margins.

Muir Homes also made encouraging progress in a challenging housing market.

Turnover increased from £19.8 million to £20.8 million, while improved margins helped reduce its pre-tax loss from £2.4 million to £1.6 million. The post-tax loss reduced substantially, from £2.4 million to just £7000.

Higher mortgage costs, restrictions on borrowing and continued inflation have affected customer confidence and purchasing power across the housing market. Muir Homes continues to drive efficiencies while maintaining high levels of customer satisfaction, with significant improvements anticipated during 2026/27.

Muir Timber Systems recorded turnover of £4.5 million, compared with £4.7 million in the previous year. Its performance reflected many of the pressures experienced across the housebuilding market, including increased costs and tighter margins.

Muir Leisure, which trades as Deer Park Golf & Country Club, also continued to grow, increasing revenue to £1.95 million. Results were, however, affected by higher operating costs, particularly increased labour costs.

The group’s property development activities delivered another positive performance. Revenue went up from £3 million to £3.5 million, while profit rose by more than 55%, from £900,000 to £1.4 million. Net assets within property development now exceed £20 million.

Muir Group’s overall financial position also strengthened during the year. Cash balances increased from £12.1 million to £21.4 million, while its bank loan remained unchanged at £16.4 million. Net assets rose from £86 million to £89 million. The number of people directly employed by the group reduced from 193 to 184.

Muir Holdings, the investment arm of the Muir family, also delivered a resilient performance. Comprising Muir Property Investments and Muir Financial Investments, the business generated profit before tax of £2.7 million, compared with £2.9 million in the previous year. Net assets increased by £1.9 million to £17.1 million, up from £15.2 million in 2024/25.

John Muir, chairman, said: “These results demonstrate the strength and resilience of the Group. Increasing Muir Group’s turnover by 30% and delivering profit before tax of more than £3 million represents significant progress, particularly against a backdrop of subdued confidence, higher interest rates, inflationary pressures and continuing geopolitical uncertainty.

“Muir Construction delivered an especially strong performance, supported by its focus on quality, safety, customer satisfaction and the successful delivery of projects on time and within budget. We have also seen encouraging progress across our homes, leisure and property development activities.

“We remain realistic about the challenges facing our markets. Cost inflation, skilled labour shortages and pressure on margins continue, while higher borrowing costs are affecting confidence within the housing market.

“Our priority is to generate improved profitability sustainably over the long term. We will achieve this by continuing to strengthen our practices, improve efficiency and work closely with our clients and partners to deliver high-quality, cost-effective projects.

“With a strong balance sheet, healthy cash position and solid pipeline of work, the group is well placed to build on this year’s progress during 2026/27.”