CALA Homes 'to treble turnover by 2016'
CALA Homes has announced ambitious plans to treble turnover by 2016 after posting record financial results.The upmarket housebuilder reported a 117 per cent rise in pre-tax profits for the year ended June 30th 2014, with the figure standing at £27.3 million. Total group revenue rose by 22 per cent on the previous year's figure, reaching £294.2 million.Banner Homes, which was acquired by CALA in March this year, contributed significantly to the strong performance.CALA is now a top ten UK housebuilder by revenue and has eight regional operating areas - five of which are in England and three in Scotland.It has received a number of accolades, including being awarded the UK's Best Medium Housebuilder by What House? for the second year running, while the same organisation named Trinity Park, Edinburgh as the UK's Best Development.While private housing completions remained relatively unchanged at 677, average selling price was significantly higher at £423,000.House sales gross margin was up to 22.7 per cent - a significant rise on 2013's 18.8 per cent figure and a record for the group.The housebuilder's owned and contracted landbank was up 27 per cent to 12,690 plots, with a potential gross development value approaching £4.7 billion - a rise of 48 per cent on the 2013 figure of £3.1 billion and a total average selling price of £370,000.Alan Brown, chief executive of CALA Group, said: "Our growth plans are underpinned by the strength of our landbank, and the quality of our development locations with 81 per cent 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."Mr Brown added that he was "very excited" about the prospects for the coming year.
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