The firm said its land development business helped to lift 2013 pre-tax profits 37% to £18.4m on turnover up to £154m from £103m.

Chairman John Brown said the construction business also now boasted a strong order book for this year and into 2015 after its best 12 months for nine years.

Improved construction trading has yet to impact on operating profits, which improved marginally to £8.2m, helped by a better performance from plant hire. Turnover edged up to £82m.

Traditionally cyclical land development produced a significantly improved operating profit of £11.9m, compared to just £2.3m in 2012.

Brown said: “As we begin 2014 we have more sites with planning permission, to market into a strongly recovering housing market, than ever before.

“We have more profitable development schemes to begin than at any stage over the last five years, including encouraging levels of activity in our nascent house building venture.”

He added: “Our construction division has a good order base for 2014 and into 2015 and, after its best year since 2005, we are confident that our plant hire business will have another good year in 2014.”