Urban regeneration group MJ Gleeson (LON:GLE) shrugged off EU referendum fears as it boosted the number of homes sold by more than a fifth.
Gleeson said its house-building business Gleeson Homes sold 904 homes during the year to June 30, up 20.4% against last year’s 751.
It is active on 48 sites, said that would increase to more than 50 sites in the coming year and said it remains on track to reach its target of building 1,000 new homes a year and beyond, in the near term.
Meanwhile, the company said its strategic land business, which secures planning consents for homes mainly in southern England, had begun the year in a strong position.
The business has 10 sites with planning permission and four more with resolutions to grant planning permission, subject to legal agreement.
It said the sites could provide 2,019 plots for housing development and a 60-bed care home.
Gleeson said it was confident that full-year results would meet the top end of expectations.
Chief executive Jolyon Harrison said: "Gleeson Homes continues to see strong demand for its low-cost homes.
"The EU referendum has not affected our core customer base for whom the decision to become home-owners is not influenced significantly by market or media sentiment.
"Similarly, in Gleeson Strategic Land, early indications point to a continuing commitment on the part of our mid-sized housebuilding customers, who have short land banks which they need to continue to replenish.
"Our business plans have not changed; for us it's business as usual."
Shares in Gleeson rose 24.5p, or 5.4%, to 474.5p.
Liberum Capital has a 'buy' recommendation on Gleeson and increased its target price on the stock to 526p from 525p.
The broker said: "Gleeson is one of our preferred housebuilders as it has class-leading gross margins, significant growth potential and its low-cost product faces limited competition and solid demand prospects."