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Miller pins hopes on negotiated work

LOW MARGINS hit Miller Group's contracting margins last year, according to results published this week.

But the contractor said it expected margins to improve this year as the impact of its increased negotiated workload started to feed through.

'The benefits of our negotiated work have not come through yet, ' said chief executive Keith Miller.

He added that the company's proportion of negotiated and PFI work had increased from around 65% to 80% in the last year.

Results published today show that last year, Miller's contracting margins were static at just under 1% despite an increase in turnover.

Construction turnover grew from £247M to £302M last year, while profits rose from £2.4M to 2.8M.

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