The firm’s construction business also reported a strong upswing in revenue as its pipeline of work continues to grow across Europe.

Group full year results released today show revenue jumped 10% to £667m for the European Construction arm while profit recovered with EBITDA in 2014 of £12m.

The division has secured £830m of new work in the 12 months to 30 June 2015 – up 120% on last year.

Major recent wins include the £200m Rathbone Square job off Oxford Street, the £160m North Wales Prison in Wrexham and the £50m first phase of Stanhope’s Ruskin Square development in Croydon.

Neil Martin, Lendlease’s Managing Director of Construction, said: “Whilst market conditions have been challenging over the past few years, our strategy of pursuing a disciplined approach to work winning is now paying dividends as today’s results have shown.

“We have a strong, stable management team which is focused on securing and executing our robust and varied pipeline.

“Our extensive pipeline positions us for continued growth, bolstered by our strong balance sheet and low-risk profile.”

Martin told the Enquirer that the construction recovery is spreading to the regions with a number of jobs in the pipeline across UK and Wales.

He said that staff numbers at the firm were on the rise as Lendlease managed to attract new talent despite deepening skills shortages.

Martin said: “The industry has changed a lot and it is all about making the company an attractive place to work for people.

“Being seen as a stable, well run business helps to attract people and it is also easier to have conversations with people about joining when there is volatility at other companies.”