In a trading statement for the first half, the firm said the integration of Miller would cost less than first expected, with the enlarged business now generating “exceptional levels of cash”.

Galliford Try said it was also seeing a developing pipeline of construction work opportunities.

Greg Fitzgerald, Executive Chairman, said: “Construction, bolstered by the acquisition of Miller Construction in July, is benefiting from an improving market and the stronger presence created by the combination.

“I am delighted both with the efficient integration process and by the strong contribution already evident from the incoming team.

He added: “The group is encouraged by the prospects of delivering further growth in line with our strategy.”

Fitzgerald said the Linden Housing business had hit its first half sales targets.

He said: “Following on from the seasonally quieter summer period the sales rate has improved during the autumn, although not at the same rate as experienced last year.

“Our Partnerships business continues to enjoy exceptional growth opportunities in the affordable market,” he added.

Galliford Try has assembled a record landbank of 14,050 units ahead of plan, with land opportunities remaining very good across all regions.