A Dunfermline family builder has reported a 122 per cent increase in gross profit.

Campion Homes announced its financial results for 2023/24, showing a positive trading position for the year.

The company attributes this to steady private house sales and strong performance within its affordable housing division.

Pete Bell, executive chairman at Campion Homes, said: "As we expected, our financial year to June 2024 was a successful one, despite the backdrop of continued challenging market conditions.

"We were pleased to see positive improvements in consumer confidence during the second half of our financial year and our three private developments are returning positive results for the business."

Aided by the business's financial strength and longevity, the company has reportedly weathered the difficult trading conditions affecting the sector in recent years.

By June 30 this year, Campion Homes reported net assets of £12.7 million.

By June 30, 2024, Campion Homes reported net assets of £12.7 million (Image: Perceptive Communicators) The gross profit for the year ending June 2024 was £7.6 million, a 122 per cent rise from the previous year.

Turnover also increased by 24 per cent to £45 million, with net assets rising by £2.2 million.

Mr Bell added: "As an independent family-run business we can afford to take a longer-term view and we look forward to continuing to make a significant contribution to the sector.”