The Midlands division of property developer Langtree has helped the group announce record profits up 48 per cent to £13.8 million.
The division, based in Tamworth, is Langtree's fastest-growing regional operation and has more than 600,000 square feet of projects in the pipeline.
Midlands regional director Nick Bird said the expansion had played a major role in the company's success.
"Langtree is now recognised as a major player in the national market, with the success of the Midlands division providing a major boost to the group as a whole," he said.
"As a company we continue to improve the quality and diversity of our portfolio."
For the year ending June 2005, the group had a net asset value of £91 million up from £69 million last year.
Langtree said its nationwide property portfolio was now worth £141 million.
Current projects include the first phase of the 23-acre Mercury development near Wolverhampton comprising of 86,000 square foot of industrial space.
The Midlands' portfolio also includes networkspace - a venture between Langtree and English Partnerships, which supports the regeneration of former coalfields.
John Downes, managing director of Langtree Group, said: "It has been an exciting year for our Midlands portfolio. We are delighted to announce another year of achievement and growth."