Connells made an extraordinary pre-tax profit of £62.5m last year.

The result, by the highly successful business owned by Skipton building society, represents a 19% increase in profits year on year, and an increase of 72% over the last three years.

Highlights announced by Connells include the number of properties sold up nearly 5%; lettings income up 26%; and the acquisitions of both 18-branch Gascoigne Halman and online agent hatched.

CEO David Livesey said: “2015 was another stunning year for the Connells Group where all parts of the business delivered a strong performance. The housing market has not been without its challenges, characterised by lack of stock, so to end the year with strong profits and having sold more properties than 2014 and 2013 is a tremendous achievement.

“We remain at the forefront of our profession and to maintain this position we made further significant investments into the business in 2015.

“We ploughed £25m into branch refurbishments, acquisitions, developing our business further and building our talent pool for the future. This sends out a signal of our financial strength and commitment to growth, and we remain acquisitive.

“We are optimistic for 2016.

“We entered the year with a substantially increased pipeline, and with a stronger housing market, more buyer and rental demand and a Government that is supportive to house building and home ownership.

“We are well poised for a record year.”

Connells currently has almost 550 branches.