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Cala Group issues preliminary results for the twelve months to 31 December 2021, ahead of audited accounts to be finalised in March.
Kevin Whitaker, CEO at Cala Group, said:
“2021 has been a very successful year for the business, during which we have strongly rebounded to significantly exceed pre-pandemic 2019 volumes, revenue and pre-tax profit. 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. We expect to be one of the only major homebuilders to deliver new home completions in excess of pre-pandemic levels, with 2021 sales 19% up on 2019.
“Looking ahead to 2022 we are positive about our prospects. We enter the year with record forward private reservations, equating to a GDV of £488m. 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.”
2021 Financial Highlights
Read the full update here.