Homebuilder CALA anticipates revenue well above pre-pandemic levels
Homebuilder CALA Group said it anticipates £1.25bn revenue, surpassing pre-pandemic levels.
In unaudited results for the year to 31 December 2021, the homebuilder said it expected pre-tax profit of around £130m, an increase of 35 per cent on 2019.
The Surrey-based firm reported 2,904 home completions, up 19 per cent on its 2019 total, and said it expects to be one of the only major homebuilders to exceed pre-pandemic levels.
Sales per site per week for 2021 were 0.76, in comparison to 0.53 in 2019 and 0.51 achieved in 2020.
What’s more, CALA posted a private average sales price (ASP) of £462,000 and entered the new fiscal year with its strongest ever forward private reservations of £488m Gross Development Value (GDV) from 994 units.
A ‘race for space’ has driven strong trading, according to CALA’s CEO Kevin Whitaker.
“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,” he explained.
Despite “significant supply chain challenges” across the sector, the market was “strong” over the past 12 months, Whitaker added.
The firm has plans to build more than 3,200 homes across its eight regional operations this year. It aims to hit £1.8bn revenue by 2026.