Turnover at builder Lancsville almost doubled to £130.9 million for the year to 31 January 2008 compared with £68.6 million the previous year.
Pre-tax profits at the Middlesex-based firm increased to £2.5 million, up from £182,000.
The company currently has 40 different contracts, of which a large number are scheduled to complete in the next three months generating significant cash for the business as final accounts are agreed with each client.
Lancsville forecasts turnover in the financial year to January 2009 to be in excess of £150m and the company therefore expects to report a continued increase in operating profit in 2009.
Going forward, the company is close to securing contracts for the next two years and will be able to announce news of these shortly.
These major contracts will underpin the company’s business through 2009 and 2010 and will be in addition to nearly £60m already secured for the next financial year.
Earlier this year, insurers said they were no longer prepared to provide sub contractors working for Lancsville with trade credit insurance after insurance firm Euler Hermes’ verdict that Lancsville was overtrading.