The Group has reported a turnover of £243m and a profit after tax of £2.1m for the 12 months ending 31st March 2015.

From April 2014 to March 2015, United Living North Limited (formerly Bullock Construction Ltd) returned a profit of £0.6m, whilst United Living South Limited (formerly United House) reported a profit of £1.6m for a 15-month accounting period between January 2014 and March 2015.

The Group has now set a growth target of hitting £500m turnover within five years.

Ian Burnett, chief executive of United Living, said: “Our performance over the past year has been a huge accomplishment, especially given the well documented challenges that have faced the wider market.

“Under our renewed leadership and through the efforts of United Living staff across the country, we’ve listened to our customers and reacted by reviewing and diversifying our business model.  I’m pleased to see the result of this has been that the newly formed Group has returned to profitability.

“United Living continues to deliver a high quality of service.  We have an exceptionally strong order book already this year, into 2017 and beyond, and importantly, we’re also responding to the changes that are happening in this sector.

“We understand there is a housing shortage and we are continuing to adapt to the changes with a greater emphasis on the growing need for high quality open market and market rental homes.

“We are now determined to become the UK’s leading provider of refurbished and new build living solutions and our geographical growth is opening up new opportunities.

“We continue to find innovative funding solutions that can meet local needs and provide more homes. By diversifying the businesses we’re also better placed to address energy efficiency challenges, tackle fuel poverty, and invest in apprenticeships, training and the ongoing development of our staff.”

“Our success is testament to the hard work of the entire team and resonates all the more because we are striving to make a lasting difference in the communities throughout the UK; placing our customers and their respective communities at the heart of everything that we do.”