A Glasgow based house-building firm has reported a surge in turnover and profits as house sales increased by a third last year.

Mactaggart and Mickel said turnover for the year to the end of April rose by 19% to £48.1m, while pre-tax profits sprang up by 10% to £4.26m.

After recording a 33% rise in sales, and a total of 145 units settled, Chief executive Ed Monaghan said the company was "cautiously optimistic" with regards to its prospects for the year ahead.

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Mr Monaghan said: "We are pleased to report profitable progress this year, particularly given the challenging trading conditions across the UK construction market.

"Our robust group business model, pragmatic investment strategy and commitment to building quality were key factors which contributed to a year of sound performance across the group.

"Our cautiously optimistic outlook for the year ahead reflects the wider industry conditions, with constrained mortgage lending expected to continue."

Mr Monaghan also emphasized the continuous need to diversify, revealing that by deploying this strategy their company has generated increased turnover from every area of the business this year, despite a difficult market.

He added: "In addition we move forward having successfully secured bank support for the next three years, allowing us to continue to pursue acquisitions and invest in our business appropriately."

(JG)