Cala performance exceeding expectations so far in 2022

CALA Group has hailed a ‘very strong’ first half of 2022 in a trading update issued for the six months to 30 June 2022.

The housebuilder revealed 1,527 units have been completed during this period – an increase of 3% on the first half of 2021. Pre-tax profit is ‘in excess’ of £98 million, a 26% rise on the 2021 half-year figure.

Turnover of £688 million to June 2022 is up 15% on last year.

Kevin Whitaker, CEO at Cala Group, said, “The first half of 2022 has seen the group deliver a very strong performance, ahead of forecast units, turnover and pre-tax profits. The strength of the sales market in 2021 has continued into this financial year and we have achieved a robust forward sold position of 90% private units to the 31st December 2022.

“Significant industry-wide supply chain challenges continue and I’m grateful for the hard work and expertise of our talented teams to deliver for our customers against this backdrop.  Market demand has continued to support both strong sales rates and pricing, offsetting the ongoing construction cost inflation the industry is experiencing.

“We are confident in our ability to deliver a performance ahead of original expectations for financial year 2022. We are on track to achieve over 3,100 new home completions, a record for the Group, alongside an increase in turnover, demonstrating good progress towards our growth strategy to reach a revenue of £1.8 billion by 2026.

“Whilst wider economic factors cast potential uncertainty and negative sentiment, the market remains favourable and we are well placed for 2023.”