Alongside strong trading and a 16% growth in the value of its landbank, the strategy is part of the Group’s aim to more than double the size of its business by 2017.
Following a prolonged period of mixed trading conditions, the housing market showed tangible signs of improvement during 2013 which has continued into 2014. During the period from 1 July 2013 to 31 January 2014, CALA has seen an increase in private reservations ahead of management’s expectations, generating an average weekly sales rate per site of 0.5 with little direct assistance from the Government’s Help to Buy scheme given the Group’s premium market positioning.
Alongside this, sales prices have strengthened with the average selling price for private reservations rising by 4.9% during the period to £361,000.
This positive trading performance during the first half of the current financial year gives the board every confidence that CALA will be able to report a strong, year-on-year improvement in its financial results for the full year to June 2014, building on the excellent performance recorded by the Group last year.
CALA has announced the launch of two new regional divisions to complement its existing operations in the South of England; the North Home Counties, encompassing Essex, Hertfordshire, Bedfordshire, Cambridgeshire and London Boroughs down to Zone 3,
and; the Southern Home Counties, which includes North Kent, West Sussex, East Sussex, Hampshire, Surrey and South London Boroughs.
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