Muir Group sees return to profit

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SCOTTISH construction firm Muir Group has returned to profit, thanks to the improving housing market.

In accounts filed at companies House, the group said the profitability of its housing arm nearly doubled, bringing in £1.9 million.

House sales grew from £14m the year before to £22m in 2012, thorough a combination of improved private sales and social housing contracts in Anstruther and Montrose.

Profit before tax bounced back into the black, to £2.9m, even though activity in general construction, property development and other activities was marginally down.

Muir Group recorded its only loss during almost 40 years in business in 2011 after writing down the value of its land at Rosyth’s waterfront plunged it £1.1m into the red.