The company involved in redeveloping the Millennium Dome site today said pre-tax profits were up by 14.8 per cent to £16 million.
Quintain said it had experienced another successful year after gaining approval to develop 190 acres of its Greenwich Peninsula land, which includes the Dome.
The London-based group also got the go-ahead to turn 42 acres of industrial land next to Wembley stadium into a £1.3 billion housing and leisure development.
It said its investment portfolio had gained 9.5 per cent in value to £797.7 million as it announced a 9.4 per cent hike in its total dividend for the year to March 31 to 8.75p.
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Nigel Ellis, the Quintain chairman, said the company made considerable progress during the year in all areas of its operation.
“With the backing and enthusiasm of our management teams, our financial strength and the exciting prospects for the company’s three operating divisions, the board is confident of future growth and success,” he said.
Quintain is part of the Meridian Delta consortium that has won planning consent for 14 million square feet of development on the Greenwich Peninsula.
The consortium, which also includes Anschutz Entertainment and Australian group Lend Lease, plans to build retailing centres and 10,000 homes on the land - 38 per cent of which will be classified as affordable - as well as turning the Dome into a 22,000-seater sport and concert arena.
Construction of the arena will begin in the spring of 2005 and finish two years later, while the total development is expected to be completed within 18 years.
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“It won’t be far short of being a new town,” said Nick Shattock, the Quintain property director.
Quintain also owns 58 acres of land surrounding the new Wembley Stadium which include the arena, conference centre and exhibition facilities.
It now owns and operates the arena and other facilities after buying Wembley (London) Ltd for £48 million in August 2002.
The planning consents for Wembley and the Dome site were the two largest in UK planning history, Quintain said.
The developments are part of the company’s special projects division, one of three operated by the group.
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Its main portfolio division includes retail and commercial assets such as the Castlegate shopping centre in Stockton in the North East and the Anglia Square retail development in Norwich.
Quintain shares stood 5p higher at 432p in afternoon trade.