The Stewart Milne Group has announced pre-tax profits of £28m, a 40% increase for the year ended June 20, and a 30% increase in turnover from the previous year to £283m.

“This is the 10th year in a row of significant profit growth and we are greatly encouraged by this set of results,” said chairman and chief executive Stewart Milne.

The group comprises four divisions: housebuilding, timber systems manufacture, construction and commercial developments.

The homes division performed strongly despite a slower market, with sales of £180m, a 26% increase on last year.

The timber systems operations in Aberdeen and Oxford both saw an increase – with total sales of £72m, 13% up on the previous year.

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