Chairman John Kirkland said all divisions performed well including the group’s house building business Peveril Homes.

Latest accounts for the year to August 2016, show pre-tax profit leap 53% to £61.5m as revenue rose 10% to £931m.

Bowmer & Kirkland maintained a strong cash balance with £268m held at the bank at year end.

Kirkland said: “Our strong cash position provides a major advantage enabling us to provide equity funding to finance developments and invest in joint venture arrangements when they arrive.

“We are pleased with the contribution our property joint ventures have made and our actively looking for more opportunities.”

Over the year the firm’s headcount edged up by 3% to 1,337 staff, while the wages bill jumped 23% to give an average staff salary of £54,790.

The highest paid director saw his total package rise 18% to £6,479,166.