Developer St Modwen has posted a 34 per cent rise in profits over the last 12 months.
Pre-tax profits at the Birmingham based company were £50.4 million compared to £37.5 million in 2010.
And the developer of the Longbridge regeneration scheme believes it has the foundations in place to deliver good results in 2012.
It has highlighted commercial developments on site that are expected to deliver more than £15 million profit over the year ahead.
It has also pointed to a “positive outlook” in the residential sector with house sales and demand holding up well.
Future opportunities have also been flagged up, including schemes at the Elephant & Castle in London, Swansea University and Project MoDEL, a project run for the Ministry of Defence.
Chief executive Bill Oliver said: “We have had a very successful year despite the challenges posed by the market conditions, significantly growing profits and completing transactions across the portfolio, and we have the foundations in place to deliver very good results in 2012.
“Our commercial developments in progress together with our active housebuilding sites will deliver property profits to underpin our results for 2012 and beyond.
“We can also see clear opportunities to add value to our assets through the planning process and our active management of our income producing portfolio is producing a resilient income stream.
“Although the wider economic environment remains unpredictable and there may still be further challenges for the sector we are confident that our asset portfolio and development pipeline will provide us with many opportunities to add significant value for our shareholders.”
