The growth figure was boosted by a 6% increase in core completions to 1,104 units (1,040 in 2015 H1) and a 1% increase in the average selling price to £221,500 (£218,800 in 2015 H1).

Affordable housing completions fell to 179 units from 186 in 2015.

With regards to overall completions, 32% utilised the help-to-buy scheme (34% for H1 2015), while sales to first-time buyers were up by four percentage points (37% in 2016 H1 compared with 33% in 2015 H1).

Chris Endsor, chief executive of Miller Homes, linked the rise in profits to increased sales and witnessed no noticeable impact on business during the period from Brexit.

“The 12% increase in our sales rate, together with the launch of new higher margin sites, has led to significant improvements in both operating profit and return on capital employed of 36% and 38% respectively.

“Market conditions were buoyant throughout the first half of the year with no discernible impact in the run up to the EU referendum. 

“This has continued with our sales rate in the second half of the year being over 20% ahead of the same period last year. 

“It is too early to evaluate fully the implications of the EU referendum decision, although it is evident that regional housing market conditions and sentiment continue to be strong.

“There remains high underlying demand for quality family homes in our selected regional locations, which are outside of London and the South East underpinned by supportive mortgage lenders in a low interest rate environment. 

“While we will remain vigilant for any negative signs arising from the EU referendum decision, we have no plans currently to alter our substantial land investment programme and are confident in our continued strong future performance.”