New accounts at Companies House show profit after tax was £11.5m, against £10m last year. Turnover was at £167m, compared to £165m.

In an analysis of group turnover, £153m, up from £151m in 2017, related to sale of goods and £13.4m, against £13.7m last year, related to sale of services.

The number of staff in selling and administration was up at 200, compared to 183, but down to 418 from 443 in manufacturing and distribution.

The company cited the benefit of strong demand for new residential properties, which was helped by the government support, in its annual accounts to March.

However, directors warned that “ongoing political and economic risks” could have a “material effect across all business activities” in the current year.

The firm said: “Performance in the period demonstrated steady growth.

“Demand for new-build residential properties across all sites held up in the financial year, assisted by the government’s Help to Buy scheme.”

It added: “The directors expect the forthcoming financial year to be a challenging one, with ongoing political and economic risks having a material affect across all business activities.

“The market for new-build residential properties remains fragile, being assisted through government support.

“Forward reservation levels are good but demand strength will be influenced by inflation and interest rate movements in the short term.

“Impact of rising raw material costs may have a detrimental effect on engineered timber products and timber importing.”

The group added that it “remains well-positioned to take advantage of increases in demand for its products and services and of new opportunities”.