Welsh construction and development company Watkin Jones saw its profits shoot up 50 per cent from the previous year, the firm announced today.
The company announced a record pre-tax profit of £13 million for the year ending 30 September 2007, up £4.3m from the previous year.
Turnover rose from £93 million to £108 million.
The growth in the group’s operations was mostly down to its student accommodation and construction divisions, while its homes division said sales flow remained steady.
The group gave a confident statement of intent for 2008 despite saying it faced “tightening market conditions”.
Group managing director Mark Watkin Jones said: “We are very pleased with the results for 2007 and the prospects for the future look very positive, both in the short and longer term.”