Contractor Watkin Jones posted a 16% rise in pre-tax profit for the year ending 30 September 2006.
The company, based in Bangor, Gwynd, generated its £9.2m return on the back of a 48% jump in turnover to £89m.
The company said its results were driven by particularly strong performances at its construction and student accommodation divisions.
Watkin Jones said it was upbeat about future performance.
It said the programme of sites for development should result in strong growth in the student accommodation and private developments divisions over the coming years.