Profits at Mitie Group, the building and support services group, surged more than 30 per cent last year on the back of strong contract business.

In the 12 months to March 31, Mitie reported profits before tax of £19.2 million compared with £14.5 million a year earlier.

Turnover was also strong - up to £346.5 million, against £264.4 million.

Chairman David Telling said: "Mitie Group is more than just a commercial company. It has an element of social and economic vision that provides what is still probably a unique opportunity for men and women with ambition, talent and motivation to build a successful business within a supportive framework."

Mr Telling said his company's vision was backed up by it sponsoring more than 40 of its managers through business development courses.

The company made no significant acquisitions last year but since the year end has undertaken several deals including taking a 60 per cent stake in fire protection company The McCartney Group for £2.8 million.

Elsewhere, Mitie has won repeat building services contracts with Rolls Royce, the Home Office and Glasgow Rangers among others.

Its largest project completed was for a £7 million refit at the City investment bank Credit Suisse First Boston's London offices.

And the company's support services division won a five year contract with London City Airport worth over £1 million a year, which the company described as a "major success of the year".

The total dividend payment to shareholders will be 2.0p compared with 1.6p last year.