Building firm Barratt today provided further signs of a housing upturn after profits and sales soared.
The Bardon company, the UK's biggest house builder, said pre-tax profit before one-off costs was up 73 per cent to £192 million in the year to June 30.
The group's order book also rose by 53.6 per cent to £829.7 million over the same period.
Sales were boosted by the launch of Government's Help to Buy scheme in April, where first-time buyers are giving financial support.
Group revenue for the year was up about 12 per cent to £2.6 billion.
The housing market has showed signs of improvement in recent months thanks to Help to Buy and increased availability of mortgages.
Mark Clare, chief executive of Barratt, which owns David Wilson Homes, said: "As more house buyers return to the market, supported by improved mortgage availability and the Help to Buy scheme, we are in a strong position to continue to grow the value of the business.
"We are increasing our investment in land while reducing debt and have delivered a performance ahead of expectations. Momentum is continuing to build and with forward sales up substantially, we are confident we can improve our performance still further in the year ahead."
About 500 people are employed by Barratt in Leicestershire, including its head office in Bardon, near Coalville.
The company is currently building on about 380 sites across the country, including a housing development in Quorn, close to the A6.
