The growth spurt comes from strong public sector orders for schools, barracks, health and prison sectors.

Pre-tax profit edged up nearly 5% to £7m in the year to March 2024.

Paul Ruddick, chairman for Reds10, forecast revenue in the year ahead would hit £160m on the back of a £300m pipeline of orders, with 100% coming from long-term programmes of fully funded public sector schemes.

Most recently, Reds10 was named by the Defence Infrastructure Organisation as one of six firms on a new alliance to build Single Living Accommodation for the Armed Forces.

Ruddick said: “We are continuing to invest in advanced manufacturing technologies and techniques as part of our mission to lead the way in industrialised delivery, revolutionising the way buildings are constructed.

“By reducing labour while maintaining quality, we continue to showcase MMC as an efficient and innovative alternative to traditional methods of construction, well-equipped to fulfil demand.”

Reds10 has continued to invest in its MMC manufacturing facility in Driffield, East Yorkshire, acquiring its fifth factory in 2024.

Its factory floor space now totals 300,000 sq ft and the facility has the capacity to produce 4,000 units per year.