Barratt Developments has reported an increase in annual profit to £191.1m - up 41.6% on the same period last year.
Revenues at the housebuilder - known for its new-builds - increased by 14.1%, while the average sales price of its homes rose from £178,300 to £180,000.
It also managed to almost halve its net debt to £167.7m.
Government schemes to boost the housing market and a drive to build new homes on higher-margin land - in the South East for example - boosted its results, the company said.
An increase in the number of homes it completed - 12,637 this year compared with 11,078 last year - also helped.
The UK's housing market remains "broadly stable", chief executive Mark Clare said, although he stressed that there were significant regional variations in demand and pricing.
"We have made considerable progress in rebuilding profitability - by optimising selling prices, improving operational efficiency and securing new higher margin land," he said.
"Whilst we expect progress to continue, further recovery in the housing market remains dependent on improving economic conditions and the ability of our customers to secure mortgage finance."
The company said it would not be paying a dividend, but plans a handout for shareholders next year.
Housebuilders in Britain have benefitted from a lack of new homes and Government schemes to boost the market, such as the NewBuy programme which helped people get a mortgage with a 5% deposit.