Warren Buffett’s conglomerate holding company Berkshire Hathaway has confirmed record profits of $19.48 billion for 2013. The Omaha, Nebraska based firm saw full year profits rise an impressive 31%, equating to $11,850 per Class A share. Buffett, the world’s fourth wealthiest man according to Forbes magazine, released his annual report to shareholders on Saturday. Analysts’ profit expectations of $18 billion were emphatically exceeded by Berkshire. The company’s stellar performance is attributable to strong year-on-year growth in large, established American companies.