CALA Group reported its fifth consecutive year of record revenues and profits with over £1bn of land investment.
The Group is on track to deliver its strategic growth plan with annual revenue exceeding £700m for the first time, according to a recent trading statement. Total home completions were up 46% to 1,677 for the year ended 30 June 2017.
CALA has also called on the government to urgently reform the UK planning system in order to achieve the Conservative’s manifesto pledge to build one million new homes by 2020
Alan Brown, Chief Executive of CALA Group, said, “2017 has been another record year for the Group. Our performance for the twelve months to the end of June will see us deliver revenue in excess of £700m for the first time which is a big step towards our stated aim of delivering an annual capacity of up to 2,500 units and £1bn of revenue by 2020.
“Following the General Election result, we now have a Conservative Government with a stated manifesto pledge to build one million new homes by 2020. However, if the UK is to stand any hope of delivering on this aim, urgent reform of the planning system is required to remove the obstructions that are preventing us and other developers from getting on and building the homes the country desperately needs.
“We enter the new financial year in a positive position with a strong level of forward private reservations that is actually ahead of our expectations. We continue to see good opportunities to buy high quality land in attractive locations at affordable prices and I remain confident in both our near term and longer term growth plans.”