The company announced post-tax profits of £2.84m for 2011, which is much higher than the figure of £40,000 recorded the year before.
Turnover was £2.67m, compared with £3.34m the year before. Managing director Ann Scott said the business was “excellently placed for growth” despite facing some of the toughest trading conditions since the company was formed 60 years ago.
The chairman Martyn Harrison said: “While 2011 saw no general improvement in the development sector, challenging times present opportunities and we successfully identified new partners and new sites with potential. These efforts look set to pay dividends as we take the business forward.”
He added: “We are anticipating that we will show a profit again in 2012, strengthening our scope to seize new opportunities as they arise.”
The group is involved in a number of high profile schemes across the Yorkshire region, including the £32m redevelopment of York’s original railway station to provide a new headquarters for City of York Council.
Current development partners include Buccleuch Properties and Development Securities.
Mr Harrison added: “Our success is based on working with clients and partners who share our philosophy of making things happen and delivering real value on sites or schemes which hold challenges that might prove daunting to others.”