Homebuilder CALA predicts income well above pre-pandemic levels

Monday January 10, 2022 6:01 am

Home builder CALA Group has said it expects revenue of £ 1.25 billion, exceeding pre-pandemic levels.

In the unaudited results for the year to December 31, 2021, the homebuilder said it expected pre-tax profit of around £ 130million, a 35% increase from 2019 .

The Surrey-based company reported 2,904 home completions, up 19% from its 2019 total, and said it expects to be one of the only major home builders to exceed pre-pandemic levels.

Sales per site and per week for 2021 were 0.76, compared to 0.53 in 2019 and 0.51 achieved in 2020.

Additionally, CALA posted a Private Average Selling Price (ASP) of £ 462,000 and entered the new financial year with its strongest private term bookings on record of £ 488million Gross Development Value (GDV) from 994 units.

A “space race” has led to strong business, according to Kevin Whitaker, CEO of CALA.

“We have seen a lot of people making positive new home choices to seek larger living spaces, which has resulted in a very high demand for our homes in ambitious suburban areas,” he explained.

Despite the “significant supply chain challenges” in the industry, the market has been “strong” for the past 12 months, added Whitaker.

The company plans to build more than 3,200 homes in its eight regional operations this year. It aims to reach £ 1.8bn in revenue by 2026.

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