Wain Group has reported a 60% increase in profit, citing a boost from increased selling prices due to the ‘disparity’ in the market between supply and demand.

The private housebuilder, which is based in Warrington and builds mainly in the north west, Severn valley and south west, reported pre-tax profit of £53.6m for the 53 weeks to 31 December. This was up on the £33.5m reported for a 15-month period to 27 September, which it used as a comparator due to an accounting period change.