Housebuilder Bellway has achieved 10% more completions in the past six months than in the same period last year.
In an upbeat trading statement for the six months to 31 January, the company said it had completed 3,264 homes compared with 2,958 last year.
Most of the increase was achieved through private home sales, although social housing sales also increased.
The statement said that operating margins were “broadly similar” to last year at 19%. Average selling price increased to £173,000 from £167,000.
Bellway is expecting to make a record operating profit for the period, exceeding last year’s figure of £96m.
Bellway has already secured 80% of this year’s targeted volume in reservations.
Shares in the company rose by almost 4% to 1,480p after the announcement.