Mr Miller will retire as managing director in March next year, or earlier if a replacement is found, but he leaves the group finances in a sound position.
In an interview with the Otago Daily Times yesterday, Mr Miller said Fulton Hogan, which was founded in Dunedin, had played a large part in his life.
He would continue to be a shareholder after he left, something he was proud of.
Mr Miller has been with the company for 18 years, the last seven at the top. He spent six years as chief executive of the Australian business but started as an engineer, moving his way through the ranks to become a regional manager and then managing director.
"My strong view on leadership is that it is healthy to have change in the five-year to 10-year range. You bring in new thinking, a new style and new innovation. I have always said I would identify the right time to go and this is the right time.
"I am looking forward to the seamless transition to my successor, whoever that is."
Mr Miller said he intended to take some time off and spend time with his family before deciding on his next career move.
The top job had meant a lot of travelling, particularly to Australia, which was a less mature market than New Zealand.
Fulton Hogan reported operating earnings of $336million for the year ended June, up nearly 6% on the $318million reported in the previous corresponding period.
Revenue was up slightly at $3.1billion from $2.9billion and the reported profit was up 11.3% at $168.7million.
Mr Miller said all five business units had met or exceeded financial targets, contributing to the increased reported profit.
At the same time, the civil engineering and resources company had made significant progress in its safety performance, recording its best-ever total recoverable injury frequency rate for the group — 4.8% — a 28% improvement year-on-year.
That was attributed to a workplace culture of encouraging staff to talk openly about safety issues, he said.
"Our strong financial result is mirrored in our safety performance. We have made progress in harmonising our safety systems across New Zealand and Australia, with both countries now operating on similar legislation. We will continue to challenge all parts of our business in our efforts to achieve zero harm, as even one injury is too many."
Reviewing the financial results, Mr Miller said Fulton Hogan had decided on a strategy of controlled revenue growth but working towards a significant increase in the bottom-line.
The group had focused on driving more efficiency in the business by using technology and innovative techniques.
A large effort had gone into targeting procurement gains through a central procurement hub.
Technology had been used to provide more mobility for field staff.
Australia was still providing many growth opportunities as Fulton Hogan increased its presence in the national broadband network, renewable energy, heavy rail and defence business markets.
Some of that work was essential to counter the shortages of work in the mining sector, he said.
The Australian infrastructure sector was worth about $84billion and Fulton Hogan’s revenue from Australia was $1.9billion, providing significant opportunities to grow.
He was pleased with the growth in "annuity income" projects after the company successfully tendered for road maintenance work in Victoria and other parts of Australia.
New Zealand delivered a solid performance, with the completion of the Lincoln Rd and Causeway projects in West Auckland.
At the same time, the group had retained its market share in the NZTA road maintenance sector through moving to "network outcome contracts", an approach to maintenance and operations that ensured efficiency and effectiveness through better asset management and delivery.
During the year, the group had worked on integrating several acquisitions made, including the Fowlers, Buchanan and Perry quarries.
It also increased its stake in Coastline Markers to 100% and now held a 75% share in the Fijian joint venture maintenance business.
Increased demand for housing in Auckland and Christchurch meant the company had accelerated its land development activities there.
To continue to meet housing demands, Fulton Hogan had invested in land in Auckland for future development, subject to future zoning and consenting, Mr Miller said.
In the financial year, the company had sold 900 sections and he noted the east-to-west drift in Christchurch, caused by the earthquakes, had slowed.
The demand for sections in Auckland was still high and the company was working with Auckland and central government to bring more unconsented products to the market.
With a forward order book of $1.9billion, up 10% on the previous year, Fulton Hogan was in a "comfortable position", Mr Miller said.
Growth was strong in Auckland, Hamilton and the Bay of Plenty.
Some parts of New Zealand had been hurt by the hit in dairy incomes and was a softer market for the group, he said.The mining states of Queensland and Western Australia were also in a recovery mode, he said.
