Scottish housebuilder Springfield Properties has announced record profits and revenue for its last financial year.
The Elgin-based business also completed 1,242 homes in the period, up 27.6% on the figure of 973 previously.
It was the first time that the company had delivered more than 1,000 properties in a year.
Springfield's pre-tax profits for the 12 months to the end of May were £19.7million - up 10% on the previous year.
Revenues also climbed by 19% to £257.1million.
Chief executive Innes Smith said: "This year, we achieved our highest-ever annual profits and revenue with strong results across private, affordable and contract housing.
" I am pleased at how we managed the material and supply-chain pressures facing our industry so that - while not immune - we were able to mitigate much of the impact."
Significant expansion
The CEO said Springfield had significantly expanded its business with the acquisitions of Tulloch Homes of Inverness and, in the new financial year, the Glasgow-based housebuilding business of Mactaggart & Mickel.
He described them as two high-quality housebuilders with land in areas of strategic importance.
Mr Smith added: "We also achieved a milestone with the delivery of our first housing for the private rented sector (PRS)."
He said that Springfield had entered the new financial year delivering against a strong order book in private housing - reflecting sustained demand for the type of homes it provides and the expansion of the business.
The CEO went on: "We have excellent visibility over full-year private revenue forecasts based on homes delivered, missived and reserved.
"While the challenging economic backdrop will impact our affordable and PRS housing activity in the short term as we await decisions from the Scottish Government, we are on track to deliver another year of revenue and profits growth overall.
"Moreover, the fundamentals of the housing market in Scotland remain strong with high demand for homes across all tenures coupled with a national shortage in housing supply.
"As a result, the board continues to look to the future with confidence and to delivering sustainable value for all of our stakeholders."
FTSE 100
The UK's top share index, the FTSE 100, was down three points at 7,188 shortly after opening this morning, following yesterday's 44-point loss.
Brent crude futures were ahead 2.04% at $92.49 a barrel.
Companies reporting today
- Full-year results: Supermarket Income REIT
- Half-year results: Keywords, Petershill Partners