CALA set for record results

CALA Homes is on track to deliver record revenues, profits and new homes in 2017, according to the housebuilder’s first-half trading update.

The company secured planning consent on 15 sites in the six months to 31 December, which it said would deliver 1,533 new homes with a gross development value of £648m.

CALA has been a part of Legal & General Capital’s housing platform since L&G bought 50% of its equity in 2013 for £75m.

Over the past three years, CALA’s revenues have grown by about 140% and profits have risen by about 370%.

Paul Stanworth, managing director of Legal & General Capital, said: “As the recent government white paper highlighted, housing in the UK has for too long been starved of investment, innovation and long-term thinking.

“We are addressing this by objectively looking at housing across all tenures and how new homes are delivered, putting to work our innovative long-term capital to help boost supply.”

Legal & General Capital said it expects to become one of the top five home providers in the UK in the next five years.

• To send feedback, e-mail or tweet @ktomusk or @estatesgazette