Redrow has drawn attention to the importance of the government’s Help to Buy scheme in it’s announcement that the residential construction giant’s profit have had a 91% increase, pre-tax in 2014.

Turnover increased by around 43% year-on-year which is said had been “spurred by Help to Buy” with growth being gained through a 27% increase in legal completions and a 13% increase in selling prices and where Help to Buy accounted for 35% of the their legal completions.

In order to deal with the growth Redrow had to increase their workforce by 21% and recruited 48 apprentices.

Redrow chairman Steve Morgan said: “The shortage of skilled people in our industry is another obstacle to preventing increased output in line with demand.

“I am proud that Redrow continues to be at the forefront in training the next generation of skilled workers at all levels.”

Additionally the company announced that the outgoing Chief Executive of the British Property Foundation Liz Peace has joined the business and will chair the group’s sustainability committee.

Mr Morgan went on to say: “November 2014 marks the 40th anniversary since I founded Redrow, therefore it is quite fitting that I am able to report a significant increase in turnover and pre-tax profits, both of which are a record for the group.”

“Market conditions have returned to a more seasonal pattern of activity. We have substantially increased our land bank, which should see a good growth in the number of outlets during the year.

“This, combined with our strong order book, leaves me confident that the Group will see another year of significant progress.”