London-focused housebuilder Telford Homes reported a 5.9% rise in pretax profits to £34.1 m and said it was on track for a rise to over 40 million in the current year and 50 million the following year.
The company, which also reported a 19% rise in revenue to £291.9 m, said it had already secured more than 80% of anticipated gross profits for the year ending next March with an increased focus on building rental homes.
Demand, Telford said, would continue to outpace supply in the non-prime areas of the capital in the "foreseeable future".
The housebuilder increased its total dividend payout for the year by just over 10% to 15.7 pence a share, including a final dividend of 8.5 pence.
Telford remains confident in delivering continued growth, supported by the chronic shortage of homes in London.
"Notwithstanding some uncertainty created by the outcome of the EU referendum we have experienced robust demand for our homes from individual investors and owner occupiers", the company said.
