The south-east housebuilder, which was acquired by private equity firm Cabot Square Capital in June 2022, posted pre-tax profit of £16.5m for the year to 31 May, up from £8.3m the previous year.

It also posted a 36% increase in turnover, from £115.5m to £157.4m, over the same period. The firm said the rise was due to an increase in private units sold, while its interest costs dropped from £352m to £69m.