CALA Group has announced a fifth consecutive year of record revenues and profits with over £1bn of land investment.
The recent trading update, which covers trading for the twelve months to 30 June 2017, indicates the Group is on track to deliver its strategic growth plan with annual revenue exceeding £700m for the first time. Total home completions are up 46% to 1,677 (2016: 1,151) and the company contracted 34 new sites (3,199 plots) during the year with a potential gross development value of £1.3bn.
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.
The company is also calling 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 continued: “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.”
