Flintshire-based house builder Redrow said its revenue rose 23% to a first half record of £739 million in the six months to December 31 and pre-tax profit soared 35% to a record £140 million.

Redrow said its private order book was up 35% at £897 million and its current land bank was up 18% to 25,300 plots.

The company said it had updated its medium term guidance to say that in 2019 it expects to deliver turnover of £1.9 billion, operating margin of 19.5% and earnings per share of 77p.

Redrow shares rose about 4% to 470p to give it a current stock market value of around £1.7 billion.

Redrow chairman Steve Morgan said: “Redrow delivered a robust performance in the first half, producing another set of record results.

“In the last six months legal completions increased by 13% to 2,459 adding to the country’s much needed supply of new homes.

“At the beginning of February we purchased Radleigh Homes a regional housebuilder based in the East Midlands.

“Radleigh is an excellent fit given its geographical location and high quality market position.

“Radleigh will form the basis of a new division for the group.

“We entered the second half with a record order book, and customer traffic and sales remain robust.

“Given the strength of our sales position and land holdings our growth strategy is firmly on track, giving me every confidence this will be another year of significant progress for Redrow.”