John Morgan, chief executive, said that the group was now on track to deliver a full-year performance, which is slightly above the board’s previous expectations.

Average daily net cash for the full-year is expected to be in excess of £100m, higher than forecast at the half-year.

 “We continue to make good progress, with positive momentum across the group’s operations,” said Morgan.

“Consequently, we now expect to deliver a full-year performance slightly above the board’s previous expectations.

“Our strong balance sheet continues to be a significant differentiator and enables us to make the right long-term decisions for the business which position us well for continued sustainable growth.”

Total secured workload was up 10% to £7.3bn, from the year-end position.

This comprised the secured order book of £4.1bn, up 15% from the year-end and the regeneration & development pipeline of £3.2bn, which was up 4%.