Despite the ailing Scottish economy and construction sector, Springfield Properties' annual results for the year end to May show turnover is up 32% to £53m from £40m and profit is rising to £3.9m, a 56% rise on last year’s £2.5m.
The company handed over 190 private houses and 235 affordable houses last year.
Last July Springfield, which is based in Elgin and Larbert, expanded into the central belt of Scotland following its takeover of Redrow’s Scottish operation.
Managing director Innes Smith said: "In a challenging market, we have consistently fared well in our sales performance and we believe our offering of building customers an individual home with a higher standard specification has made a major impact.
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"Sales are still being curbed by problems with mortgage availability but that has been alleviated to some extent with the introduction of MI New Home 95% mortgages. The scheme has brought new customers into the market and the first few sales have already come through the system.
"We take the same flexible approach to building high quality homes for our large registered social landlord customers as we do to our private house-buyers and that is paying off in Central Scotland where we are expanding our affordable housing operation," he added.
Springfield is seeking to build on the 25 active sites it currently has throughout Scotland.
Company chairman Sandy Adam said: "We are actively buying land, both zoned and with planning consent, and expect to see a start on some new sites early in the New Year.
"The protracted planning process is still holding up development, with more than 1000 potential new homes in the system that is a real frustration. There is something wrong with the system when we have to employ more people to service our planning applications than we do bricklayers.
"Our challenge for the coming year is to grow our reputation across Scotland and sustain the steady growth of the company."
(IT)
