Results for the year to October 31 2017 show the company built 2,935 homes compared to 2,870 the previous year.

Pre-tax profits were up to £207m from £195m while total dividends to shareholders jumped 20%.

Chief executive Stephen Stone said: “A backdrop of ongoing negotiations with the EU and the outcome of the UK General Election in 2017 has resulted in very little movement in key regulatory or policy matters that affect the housing industry.

“These issues are also linked to another challenge for our industry – the skills shortage in both the trades on site and in technical roles.

“There needs to be Government action in this area, particularly relating to the challenges of retirement, potentially reduced levels of immigration and the replacement of skills in the workforce.

“This is compounded by the fact that any changes or initiatives in these areas will take many years to filter through on the ground and in the job market.”