A strong performance across its construction and property operations saw pre-tax profit jump 23% to £65m in the year to August 2021.

Despite continuing Covid challenges during the period, revenue ended slightly ahead of the previous year at a record £1.18bn.

Strong cash management saw year-end net cash improve 7% to £514m and net assets reach £551m.

Chairman Jack Kirkland, said: “Our construction companies again performed well in all sectors and all regions.

“Property development through our Peverell Securities arm and our work with joint venture partners made a key contribution to our returns.

“Our strong cash position enables us to act quickly, and we will continue to seek out funding opportunities.

“Our supply chain partners are vital in delivering our projects and we are committed to building long-term relationships and treating them fairly.”

Staffing remained steady at 1,554 employees.