National housebuilder Westbury plc has reported record interim pre-tax profits of £58m, with its Space4 modular timber frame factory ramping up production and achieving break-even.

Westbury’s group profits for the six months ended August 31 represented a 22% rise on a year ago, while turnover was up 5% to £428.4m.

Castle Bromwich-based Space4 sold 932 units internally to Westbury Homes and 143 to third parties, compared to 1,300 for the whole of last year. The progress is expected to be maintained in the second half.

The company’s chairman Geoffrey Maddrell said the government is strongly committed to modern manufacturing methods to produce new homes quickly and efficiently.

&#8220We have a strong interest from the social housing sector for the Space4 product and it will allow the group to participate in some major regeneration schemes as developer or supplier of homes”

Space4 chairman Geoffrey Maddrell

He said: “We have a strong interest from the social housing sector for the Space4 product and it will allow the group to participate in some major regeneration schemes either as the developer or supplier of homes.”

Mr Maddrell said the Space4 product is able to meet the requirements of more onerous building regulations, which “traditional” construction methods are finding more difficult.

Despite some media gloom about the future of the housing market, Westbury said it remains convinced of the long-term sustainability of the sector.