Connells Group has posted an increase in half-year pre-tax profits of 15%.

Reporting on the first six months of this year, it made profits of £31.3m, up from £27.3m for the same period last year.

Connells gave no figures for revenue.

The group increased house sales by 8%, and in its land and new homes division by 16%, while profits from lettings were up 24%.

The group, which is owned by Skipton Building Society, arranged 17% more mortgages than in the same period last year. The total value of mortgages arranged was £4.3bn.

Its valuation and surveying business also grew – income by 16% and profits by 34%.

Connells Group grew its agency division, including lettings, by new openings and acquisitions, the largest of which was Rook Matthews Sayer, with 16 branches operating across Newcastle, Tyneside and Northumberland.

The business said it is continuing to expand and acquire.

Connells Group CEO David Livesey said: “Our business has produced solid results in the first half of this year and in a remarkable market.

“We started the year with great momentum and strong sales activity, and with extraordinary levels of completions in Q1 ahead of the Stamp Duty deadline.

“However, as expected, there was a notable cooling in the market as the EU referendum approached.

“Brexit has created some short-term challenges, but we excel against our competitors in tough market conditions and we are already seeing performance bounce back to pre-Brexit levels.”

He added: “Our results are testament to the hard work of the people within our business and I can’t tell you how proud we are of the team here at Connells Group.

“We have delivered market-leading profits in an eventful market backdrop whilst gaining market share, growing organically and welcoming new colleagues through the acquisition of other great businesses.”