A Scottish housebuilder has posted record home sales in a "robust" set of results.

Bancon Group, the Aberdeenshire-based housebuilding and construction group reported a 16% increase in turnover and strong profits in its accounts for the year ended March 2023.

Turnover for the year was up £18 million on the previous year to £132m. Bancon Group delivered operating profits of £4.6m "despite cost inflation and the well-documented headwinds being experienced by the industry".

Pre-tax profits of £1.8m were slightly behind the £2.7m reported in the previous year as a result of writing down the value of a long-held development.

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The record level of activity in the year for Bancon Homes delivered turnover of £68.4m compared to £51.3m in the previous financial year. The firm said this is attributed to "the resilience of the markets in which Bancon Homes operates, the quality of the product, the attractiveness of the locations and a genuine focus on customer service".

Bancon Homes said it successfully brought forward future phases of its developments in Aberdeen and Aberdeenshire and started on two new developments in the Central Belt during the period.

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Turnover at Bancon Construction was £35.5m, 18% ahead of the previous year and profits before tax were the highest reported since 2007. It said this has been achieved through structural changes and tight margin control. Bancon Construction has a strong order book with turnover in excess of £40m secured in the current financial year.

Meanwhile, despite an overall slowdown in the market in the second-half of the financial year, Deeside Timberframe maintained activity at a similar level to the previous year with turnover of £28m compared to £32.6m. The group reports a positive outlook for 2023-2024 and has renewed its banking facilities with Santander for a further three years.

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Kevin McColgan, the chief executive who joined the group in September this year, said: "These robust results, with a second consecutive year of increased homes sales, combined with the renewal of our banking facility, demonstrate the success of our current strategies and the confidence in our future prospects.

"Our strong financial position, positive sales performance in the current financial year and strong forward orders means we are exceptionally well-placed to invest in and deliver our growth ambitions even against the backdrop of the rising costs of raw materials and the wider economic uncertainties."