Buckinghamshire Building Society has reported record profits.

The mutual recorded a pre-tax profit of £1.34 million for 2011.

Ivan Gould, the Buck’s chief executive, said: “2011 was a record year for the society, the first time we have ever made such a profit. This will improve our capital position further and strengthen the society in the face of the uncertain economy.

“We look forward to working with our members to provide an excellent range of savings and mortgage products and other services they really want to enable us to continue our growth.”