Over the 12 months to the end of June 2017 we successfully increased our revenue by 27% to £747.9m and our pre-tax profits by 14% to £68.5m, primarily driven by a strong increase in total home completions (up 46% to 1,677 homes). This means that, since the peak in 2007, CALA’s volumes have now grown by 67%, making the Group the fastest growing major UK homebuilder of the past decade.
We have also remained particularly active in the land market during the period and are pleased to have contracted on 34 new sites during the year, projected to deliver 3,199 homes with an estimated Gross Development Value (GDV) of £1.25bn. In addition, the Group acquired land with a planning permission or secured a first-time planning permission on 33 sites for 3,156 homes with an estimated GDV of £1.2 billion, underpinning our future growth plans.
Management continue to believe that the Group’s operating platform and regional network of eight regional businesses has the potential to build c2,500 homes per annum based on a continuation of current market conditions. As a result, the Group’s medium-term financial target to deliver revenue of c£1bn within four years remains on track.
Commenting on the Group’s performance, Alan Brown, Chief Executive, said:
“I am delighted with the excellent results we have achieved at CALA in the twelve months to 30 June 2017, in particular, the exceptional progress in transforming the size and scope of our business which has seen us deliver our fifth consecutive year of record revenues and profits.
“Since the 2007/2008 industry peaks, we have achieved volume growth of 67%, significantly ahead of our major listed peers while still delivering consistently strong customer service and investing in our land pipeline.
“Following our record performance in 2017, we remain on course to achieve our stated strategic aim of building approximately 2,500 units per annum by 2020 and have the infrastructure in place to deliver on these growth plans. We have entered the new financial year with strong trading momentum and, in the first ten weeks of 2017/18, net private reservations are up 34% on the same period last year.
Overall, I am very confident in the outlook for our business and very excited about our long-term future.”
You can view CALA's Payment Practice Reports here.
To download a PDF of CALA's Trading Update for the six months to 31st December 2017, click here.
To download a PDF of the Results for the Financial Year Ended 30th June 2017 Press Release, click here.
To download a PDF of CALA’s Trading Update for the twelve months to 30th June 2017, click here.
To download a PDF of the Results for the Financial Year Ended 30th June 2016 Press Release, click here.