House construction

Cala continues to increase house building levels

In a business update for the six months to June 30, 2022, Cala reported 1,527 completions through June 2022, a 3% increase from the 1,479 units completed last time.

Pre-tax profit was £98m from £77.6m on revenue up to £688m from £600m.

Kevin Whitaker, CEO of Cala Group, said: “The first half of 2022 saw the group deliver a very strong performance, ahead of forecasts in units, revenue and pre-tax profit.

“The strength of the 2021 sales market has continued this fiscal year and we have achieved a strong forward sales position of 90% private units through December 31, 2022.

“Significant industry-wide supply chain challenges continue and I am grateful for the hard work and expertise of our talented teams to deliver to our customers in this environment. Market demand has continued to support both high selling rates and prices, offsetting the continued construction cost inflation that the industry is experiencing.

“We are confident in our ability to deliver a performance above initial expectations for the 2022 financial year. business, showing good progress towards our growth. strategy to reach £1.8 billion in revenue by 2026.

“While broader economic factors create potential uncertainty and negative sentiment, the market remains supportive and we are well positioned for 2023.”