The group built 109 homes during the year with an average selling price of 拢284,000 鈥� an increase of 1%. Homes accounted for 48% of gross profit with lettings amounting to 21%.
New developments were started in Edinburgh, Newton Mearns and Ayrshire.
Chief executive Ed Monaghan said: "Despite turnover being down, Mactaggart & Mickel Group is financially sound and we're seeing the positive impact of a period of cost reduction and dedicated programme of diversification."
The group revealed it had cut bank borrowings from 拢39m to 24m.
According to reports, the company cut nearly 100 jobs last year and most of the rest of its workforce were put on a four-day week. The group returned to a five-day working week in January 2010 and now employs 177 people.
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