The developer behind a controversial shopping centre in Beverley has posted a 16 per cent pre-tax profit increase.
Wykeland Group is building a £70m retail precinct at Flemingate in the town.
It is set to create about 700 jobs and will host a Premier Inn, Topshop and Debenhams department store, although town traders initially voiced fears the proposals could damage their businesses.
The company saw stakeholders' funds rise to £68.6m, an increase of almost £9m on the previous year. Profit before tax went up by 16 per cent from £2.93m in 2013 to £3.41m.
Financial director Ian Franks said: "The group, including its joint ventures, continued to make significant progress on its development projects, including land sales, the signing of leases or agreements to lease and investment on infrastructure.
"The directors continue to approach the future with optimism.
"With the economic recovery being sustained both nationally and in the Yorkshire and Humber region, which is the main operating area of the business, the directors are confident the current development portfolio, allied to the underlying rental stream, will enable the group to grow its profitability."
Rental income at Wykeland-owned sites increased by 4.3 per cent in the year to March 31.
In addition to Flemingate, the family-owned group has built new high-end offices at Bridgehead Business Park in Hessle.
They already host fast-growing bathroom business Victoria Plumb and house builder Beal Homes. Freight business John Good Group is moving in later this month.
The group is creating another 100 acre corporate hub, Melton West, off the A63.
One major Hull development is the £14m @TheDock digital hub in the Fruit Market, which is seeking to transform the city's start-up economy.
Wykeland also redeveloped Marina Court in Castle Street. It is now occupied by a host of professional businesses including Andrew Jackson solicitors and Swedish financier Handelsbanken.
Beyond the region, the group is working on the Europarc business centre in North East Lincolnshire and has a project on land at Glasshoughton by the M62 in West Yorkshire.
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