Cala’s profit and turnover down

Cala Group saw its profit and turnover decline in 2023, although it highlighted its steady sales rate.

The housebuilder is the latest to report a “resilient financial performance” during a challenging year. During the 12 months ending December 31 2023, its pre-tax profit fell 33.6% to £112 million against 2022. Turnover slipped 7.3% to £1.26 billion.

Cala’s completions decreased 3.6% to 2,917 new homes; their average selling price rose “marginally” from 2022’s £492,000 to £495,000.

The firm pointed to its “robust” sales per site per week of 0.63 during the period, broadly matching 2022’s 0.62.

As of March 10, the sales rate increased to 0.71. Cala commented that it was seeing “encouraging levels of enquiries to our developments and website”.

It ended its financial year with 640 forward private reservations, equating to £308 million gross development value (GDV) against 2022’s 751 units and £396 million GDV.

Cala also said it had 19 new short-term developments contracted with an estimated GDV of £1.4 billion, capable of delivering more than 2,700 new homes.

It noted the continuation of its five-star status and said it had delivered a 28.7% reduction in operational greenhouse gas emissions.