CALA has seen new home completions rise 46% to 1,677 in the year to the end of June, 526 higher than the previous year.
In a trading update issued today (July 4th), the firm says it is on track to deliver its strategic growth plan as it heads for its fifth consecutive year of record profits. Annual revenue is set to exceed £700 million for the first time, up from £587.1 million last year. This is despite CALA’s private average selling price falling to £497,000 from £538,000 as the firm moves away from the market for £1 million-plus homes.
Private revenue per site per week is up 6% to £271,000 with private sales per site per week up to 0.56 from 0.48.
In issuing the trading statement, the firm took the opportunity to call for “urgent reforms” of the planning system.
“2017 has been another record year for the group,” said CALA ceo Alan Brown. “Our performance for the 12 months to the end of June will see us deliver revenue in excess of £700 million for the first time which is a big step towards our stated aim of delivering an annual capacity of up to 2,500 units and £1 billion of revenue by 2020.
“Following the general election result, we now have a Conservative government with a stated manifesto pledge to build one million new homes by 2020. However, if the UK is to stand any hope of delivering on this aim, urgent reform of the planning system is required to remove the obstructions that are preventing us and other developers from getting on and building the homes the country desperately needs.”
This Briary Energy website uses cookies to improve your user experience. We'll assume you're okay with this, but you can opt-out if you wish.Accept
Privacy & Cookies Policy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.