Cala broke into the top 10 of UK house-builders earlier this year with
For the year ended 30 June 2014 Cala reported group revenue of 拢294.2m, up 22% from the previous year鈥檚 拢240.8m. With the addition of Banner for a full year, next June鈥檚 results are expected to show turnover well above 拢500m.
Pre-tax profit last year was 拢27.3m, a record high for Cala and more than double 2013鈥檚 拢12.6m, thanks to a strong contribution from Banner.
Chief executive Alan Brown said: 鈥淭his year has been a transformational period for Cala with our excellent financial performance delivering record profits once again.聽 Following another year of significant investment in our land bank and our acquisition of Banner Homes in March, Cala is now an established top 10 UK housebuilder by revenue and, with the bulk of the Banner integration now complete, our focus is on driving the increased synergies and benefits of scale we have identified.
鈥淥ur growth plans are underpinned by the strength of our landbank, and the quality of our development locations with 81% of the projected profit to be delivered through our business plans in the next four years already owned, contracted or with deal terms agreed, providing the group with an excellent platform and a high level of visibility.
鈥淲e have entered the new financial year in a very positive position thanks to strong forward sales and, with a stable market backdrop, I am very excited about Cala鈥檚 prospects for the year ahead which will deliver our聽 first year of significant volume growth since the implementation of our new growth strategy.鈥�
Got a story? Email news@theconstructionindex.co.uk
