Cala Homes has said it remains on course to treble its revenues by 2016.

The housebuilder has been boosted by a surge in its sales, while last year, it also doubled its profits.

Publishing its financial results for the year ending 30 June 2014, group revenue was £294.2m, an increase of 22% from the previous year (£240.8m). The firm's acquisition of Banner accelerated Cala's stated expansion plans, and helped the company break into the top 10 housebuilders in the UK earlier this year. Elsewhere, pre-tax profit was £27.3m, more than double the £12.6m reported the previous financial year.

Private home completions in the year remained "broadly unchanged" at 677, with the the average selling price rising by 26% to £423,000. In 2013, this was £335,000.

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Average sales price increases were found to be strongest in the South East of England and East of Scotland.

Alan Brown, Chief Executive, 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.

"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."

(JP/CD)