Urban Splash, the property developer, increased its profit 52% in the 16 months ending 31 March.

The company last week reported £6.3m profit for the period, while net assets rose 68% to £30.4m.

It has changed its year-end to bring it in line with the traditional tax year.

In October 2003, Urban Splash was appointed as developer at Lister Mills in Bradford, once the world’s largest silk mill. Bradford council selected the developer to transform the first set of buildings into 131 apartments, to be put on the market at the end of November this year.

Urban Splash launched its first residential scheme outside a city centre in June last year. The Budenberg building in Altrincham, Cheshire, was also the first Foster and Partners-designed apartment block in the UK outside London.

The company has a development programme of more than 2000 residential units and 55,740 m2 of commercial space.

In March, the firm, run by chairman Tom Bloxham, secured 18th place in the Sunday Times list of best small companies to work for.