Financial Statement & Annual Results

Twelve months to 31 December 2024

Kevin Whitaker, CEO at Cala Group, said: 

“Cala has maintained a strong financial performance in 2024, despite political changes and macroeconomic circumstances.  

“Our sales performance was excellent for the first six months of the year, with our sales rate to June standing at 0.71 (sales per site per week). This rate decreased during the second half in line with the UK general election, economic uncertainty and slower than anticipated reduction in interest rates. Overall, we maintained a robust average rate of 0.62 across the year. 

“Strength of sales rate and strong average selling price (ASP) resulted in the delivery of £309,000 revenue per site per week, which has supported Cala’s continued investment in land throughout 2024 and the launch of our new division Cala Southern. 

“During the 12-month period, Cala contracted 21 new short-term and strategic sites, capable of delivering 2,287 new homes. These sites have a gross development value (GDV) over £1.0bn. Eight new sites were also added to the strategic land bank with a potential GDV of £575m. 

“Cala remains committed to securing more land for the future and our expert land and planning teams across the UK are actively seeking opportunities to invest in sustainable developments in desirable locations, to support our growth plans. Cala is well-positioned to achieve our goal of building over 4,000 homes a year by 2029, across the Group.

"Alongside our financial delivery, we have made impressive progress against ambitious sustainability targets, achieving a reduction of 31% in operational greenhouse gas emissions against our 2021 baseline, positioning us as one of the industry's top performers."

“In Q1 of this year, Cala has outperformed the industry average and delivered a sales rate of 0.77 with 569 net private reservations taken. We have seen encouraging levels of enquiries to Cala developments and healthy web traffic in 2025 so far. Cala’s industry-leading quality of design and construction, with outstanding customer service, as well as the enhanced energy-efficiency of new homes, continue to attract buyers. 

“Whilst uncertainty remains in the wider macroeconomic environment, this positive start to the year alongside improved consumer sentiment provides reason for optimism. The widely anticipated reduction in bank base rates and more competitive mortgage rates will improve affordability. In addition, the ongoing chronic undersupply of new homes maintains an underlying demand for housing in all our geographical locations. 

“Cala is in a strong position to make the most of any market adjustments. Our management and wider team have the talent, capability, and experience to proactively respond to renewed consumer confidence and increased demand for our homes.”

Delivery Highlights

• Robust sales per site per week of 0.62 maintained (0.71 in six months to June 2024), comparable to 2023 (0.63), despite political and macroeconomic circumstances  
• Total home completions of 2,861 units, broadly in line with 2023 (2,917) 
• Marginal decrease in private average sales price (ASP) to £463,000 (2023: £495,000)  
• In Q1 2025, Cala has delivered a sales rate of 0.77 with 569 net private reservations taken, outperforming the industry average
• Forward sales at 21%, equating to 515 homes, £235.1m Gross Development Value (GDV), (2023: 640 homes, £308m GDV) 
• Contracted 21 new sites projected to deliver 2,287 new homes with a Gross development value (‘GDV’) of £1,084 million and an average selling price (‘ASP’) including affordable housing of £474,000 (2023 : 19 sites, with a GDV of £1,423 million). 8 new sites were added to the strategic land bank with a potential GDV of £575m.  
• Continued to be recommended by customers as 5 Star homebuilder (HBF) and has an industry leading Trust Pilot score of 4.7*
• 31% reduction in operational greenhouse gas emissions against 2021 baseline. This includes the addition of Taylor Lane during 2023.
• Launched a new Southern division to drive westward expansion, covering Dorset, Hampshire and Southern Wiltshire
• Secured new ownership in leading investment firms Sixth Street and Patron Capital

* As of April 2025