The results, for the year ended March 2015, also show turnover grew 13 per cent to £133m.

Donaldson said despite margins remaining under pressure, its efficiency improvements and strong selling throughout the group helped to post an 81 per cent growth in pre-tax profits.

“Whilst our market sector is still not back to pre downturn levels, all of our group businesses have successfully grown market share to produce results in excess of any in our 155 year history,” said group managing director Scott Cairns.

“RMI, housebuilding and construction continue to strengthen UK wide and with recent political uncertainties behind us, we now have a government set on promoting UK house building back to 2007-8 levels of 200,000+ units per annum.

“We have invested heavily in the business in recent years, but 2015 will see significant projects completing that will further enhance our productivity and market penetration.”

The group comprises James Donaldson Timber Ltd, Donaldson Timber Engineering Ltd, MGM Timber (Scotland) Ltd and James Donaldson Insulation Ltd and operates from 25 sites across the UK.