Cala targets £1bn revenues after record results

Upmarket housebuilder Cala has set itself the target of growing sales to £1 billion within the next five years after delivering record annual results.

Cala is aiming to build sales to £1bn

The Edinburgh-based firm said revenues in the year to June soared 79 per cent to £511.6 million, helping pre-tax profits almost double to £50.9m, compared with £26.8m a year earlier.

Average selling prices also hit a record level, rising from £423,000 in 2014 to £509,000.

Chief executive Alan Brown said: “This growth trajectory has led to us continuing our recruitment programme apace, welcoming 169 new members of staff to the business and stepping up our apprenticeship and graduate recruitment initiatives across the group.

“Our focus now is on driving operational efficiency improvements throughout the group which will in turn flow through to improved operating margins and return on capital employed as we target group revenues of £1bn within the next five years.”