Cala Homes has described the last year as a "transformational period" as it reports "record profits once again".

In its latest report the company has said that it is "on course" to deliver a three-fold increase in revenue by 2016, and is now a top 10 UK housebuilder, based on revenue.

Figures posted by the company show that by 30 June 2014 its profit before tax rose 117%, up from £12.6m to £27.3m, and its total group revenue now stands at £294.2m, up from £240.8m in 2013, an increase of 22%.

Commenting on the results, Alan Brown, Chief Executive of CALA Group, said: "This year has been a transformational period for CALA with our excellent financial performance delivering record profits once again.  Following another year of significant investment in our land bank and our acquisition of Banner Homes in March, CALA is now an established, top 10 UK housebuilder by revenue and, with the bulk of the Banner integration now complete, our focus is on driving the increased synergies and benefits of scale we have identified. 

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"Our growth plans are underpinned by the strength of our landbank, and the quality of our development locations with 81% of the projected profit to be delivered through our business plans in the next four years already owned, contracted or with deal terms agreed, providing the Group with an excellent platform and a high level of visibility.

"We have entered the new financial year in a very positive position thanks to strong forward sales and, with a stable market backdrop, I am very excited about CALA’s prospects for the year ahead which will deliver our  first year of significant volume growth since the implementation of our new growth strategy."

(MH/CD)