Turnover increased by over £3 million to £14m and profits rebounded to £1m following a loss of £3.5m in 2013.

In November 2014, the group successfully completed a restructuring that added more than £21m to its balance sheet, completely wiping out bank debt.

Dr Ali Afshar, joint managing director, said: “We had a pleasing performance in 2014 and prospects for 2015 are extremely encouraging with the launch of new developments in Edinburgh’s Springside and Cramond and other sites about to come on stream.

“I’m delighted to report that since the start of the New Year, our developments have been enjoying greater visitor footfall and buoyant sales.”

AMA also benefited from a major recovery in average house prices in 2014 from £273,000 to £448,000.

Dr Afshar added: “AMA developments continue to command higher unit prices than the industry norm and we are confident this trend will continue as it reflects the company’s ethos of consistent and uncompromising build quality.”

2014 saw the group diversify its portfolio to include residential and commercial developments, serviced apartments and student accommodation.

Going forward mixed-use developments will feature prominently and its construction arm will become a main contractor rather than focusing on only fit-out, thus guaranteeing AMA’s superior quality build standards from start to finish.

The group will continue to focus on the Edinburgh property market and the next 12 months will see the continuation of the final phase of the development at Springside, further phases at Cramond and the completion of student accommodation and the residential element at Slateford Road.

Meanwhile, planning applications are being pursued for three additional developments at Belford Road, Springwell House and Fusion House in Edinburgh.

Actual turnover for 2014 was £14,095,173 compared with £10,767,086, profit before tax was £1,089,364 a loss of £3,517,626 in 2013 and following the injection of long term loan notes from Souter Investments, shareholder funds rose to £23,660,213 compared with £1,202,470 in 2013.