Cala rebounds strongly to exceed pre-pandemic high

Aaron Morby 2 years ago
Share

House builder Cala has topped its pre-pandemic performance to deliver revenue of £1.25bn for the first time.

Kevin Whitaker, CEO at Cala Group, sets course for £1.8bn sales by 2026
Kevin Whitaker, CEO at Cala Group, sets course for £1.8bn sales by 2026

Kevin Whitaker, CEO at Cala Group, said he expected that Cala would be one of the only major home builders to deliver home completions above pre-pandemic levels, with 2021 sales 19% up on 2019 to 2,904 homes.

This jump saw the house builder deliver a £130m pretax profit after plunging to £24m in 2020, and up from £96m reported in 2019,

Cala 2021 trading
2019 2020 2021
Turnover £1,002m £713m £1,250m
Pretax Profit £96.2m £24.4m £130.2m
Completions 2,449 1,835 2,904
An sales price £464,000 £434,000 £462,000

 

The Legal & General Capital-owned builder said it was on focused on further strong expansion targeting £1.8bn revenue by 2026.

Whitaker said: “This year we plan to increase our housing delivery further still – building more than 3,200 homes across our eight regional operations.

“We have a strong short-term land bank to underpin the delivery of our current business plan and continue to invest heavily in land as we look towards our medium-term ambition of reaching a revenue of £1.8bn by 2026.”

He said: “Several factors have enabled our excellent financial performance across the 12-month period.

“In particular, we have seen many people making positive new home choices to seek out larger living spaces and this has driven very strong demand for our homes in aspirational suburban locations.

“While there have been significant supply chain challenges across the industry, the market has been strong. This, combined with improvements to our operational efficiency and the hard work of our team, has enabled us to deliver an excellent performance across the year.”

 

 

Latest news

Fatal accident at Laing O’Rourke Oxford site

Work suspended on site after tragedy
9 hours ago

Three Caledonian Modular-built schools to be demolished

DfE confirms Essex, Somerset and Northampton schools will be bulldozed and rebuilt
11 hours ago

Balfour renews £330m Lincolnshire highways deal

Firm will use its new operational control hub to promptly address network issues
10 hours ago

Gilbert-Ash takes £30m Tate Liverpool revamp

Work to start in the New Year on remodelling of iconic 1846 warehouse
10 hours ago

HS2 Solihull mass transit enabling works out to bid

Bidding for £60m main works to start early next year
11 hours ago

Modular health specialist Vanguard rescues M-AR

Deal with administrators sees Vanguard add production capacity with 100,00 sq ft offsite factory
11 hours ago

Torsion forms JV to build £90m Leeds resi tower

Construction to start in January on one of Leeds' tallest towers
11 hours ago

Approved change to concrete ‘recipe’ to slash carbon emissions

New approved concrete mixes will be able to blend finely ground limestone and fly ash
1 day ago

Network Rail unveils Cardiff South Central masterplan

Plans being drawn up for major housing-led mixed-use scheme
24 hours ago

McLaren Living to revamp Watford police station site

Developer to submit plans for a major mixed-use development
1 day ago

National Grid £12.8bn HV civils framework hits market

Firms needed for major power line links and high voltage direct current converter stations
1 day ago

P.P O’Connor blows down four iconic cooling towers – video

Fiddlers Ferry Power Station regeneration gets off with a bang
1 day ago

Worker injured at £300m offshore wind factory site

Accident on major Teesside construction site
1 day ago

8Build bags Cambridge office and labs scheme

Firm wins phase 2 of The Press biotech development
1 day ago

Cash boost to accelerate Transpennine Route Upgrade work

Government commits £3.9bn for latest phase of rail upgrade
1 day ago

Further fines after fatal fall on office conversion

£600,000 CDM fine after death while installing lightning protection system
1 day ago

Lonsdale went down owing £65m to supply chain

More than 600 firms owed money as reduced credit rating sinks M&E giant
5 days ago

Wates only bidder for £80m Cardiff estate rebuild

Council contacted 20 framework firms but received only one bid for 295-home Channel View estate rebuild
4 days ago

£21m legal battle over flawed concrete at Salford flats job

Developer in compensation battle with Arcadis after new concrete core demolished
4 days ago

Abu Dhabi developer Aldar Properties buys London Square

UAE giant swoops on resi specialist in vote of confidence for London market
4 days ago

Hunt for delivery partner to revive New Hospital Programme

Programme delivery partner to get £600m fee to get plans back on track
5 days ago

Green light for new £780m Essex garden village

3,700 homes and four new schools to be built at Dunton Hills
5 days ago

Laing O’Rourke makes a £288m loss

Rampant inflation on fixed-price jobs and problem contracts blow hole in accounts
5 days ago

Keltbray, OCU and Clancy clinch £1bn electricity network upgrade

Scottish and Southern Electricity Networks awards biggest ever deals for central southern England
6 days ago

G&T enlisted for commercial review of HS2 main civils contracts

Phase 1 Main Works Civils Contracts to come under cost scrutiny
5 days ago

TClarke order books doubles to top £1bn for first time

M&E specialist on track to exceed £500m turnover this year
5 days ago

Wates signs Government safety remediation pact

Private builder belatedly signs fire safety developer remediation contract
5 days ago

Liverpool all-electric industrial park approved

McLaren and Caddick in chase for Sefton 800,000 sq ft Atlantic Park scheme
6 days ago

Former Buckingham Group MD to join John F Hunt

Simon Hyams is new Managing Director for Contracting
6 days ago

Three in race for retendered £150m A9 dualling job

Bidders take another look after client takes on more risk
6 days ago

Contractor services