OREGON Timber Frame has reported a near four-fold increase in profits to £2 million last year, accounts newly filed at Companies House show.

Selkirk-based Oregon, which manufactures timber systems for the construction and housing industries, said gross margins increased during the year because of lower material costs, a strong pound and a 35 per cent increase in turnover.

The company saw turnover surge to £20.2m, up from £15m the year before, without establishment costs going up.

Oregon notes in the accounts that it has been designing and providing pre-insulated housing to comply with regulations which will come into force in the coming years.

It expects to achieve an increase in capacity in the second half of 2016, following the recent purchase of a new manufacturing facility.

Oregon employed an average of 111 staff during the period, up from 96, as the company’s wage and salary bill climbed to £2.7m from £2.2m.