The housebuilder and strategic land specialist sold 1,225 units over the past 12 months, a 21% year-on-year increase on the same period last year.

Dermot Gleeson, chairman at MJ Gleeson PLC, said: “Our twin-track strategy – the development of low-cost homes for open market sale in the North of England and the Midlands, and strategic land sales in the South – delivered another excellent year of increased volumes, profit and cash.

•   Housebuilding confidence a good foundation for boosting new home numbers
•   Record number of new homes built in Cheshire East
•   House prices still recovering from financial crisis in a quarter of UK's largest cities

“Gleeson Homes is on track to deliver its next milestone target of doubling annual completions of low-cost homes between 2017 and 2022 to 2,000 units.

“Led by a strong and highly experienced management team, who have created a very attractive land pipeline, the division’s scope for expansion continues to be underpinned by strong demand from our customers who aspire to home ownership but who are ill-served by the majority of housebuilders.

“Against this background, the board is confident that the group’s unique business model will continue to deliver significant growth in both revenue and profits in the current year and beyond.”