Edinburgh Housebuilder Records Record Profits

Profits for Edinburgh housebuilder Cala have increased £2m to £11.4m in just the last year - the highest since the group was taken private in 1999.

The company completed 666 homes in the 12 months to 30 June - a 24% increase on the previous year.

Cala said its strong performance was down to its policy of concentrating on more affluent areas.

The group's landbank stands at 9,600 plots with a potential development value of £3bn.


Cala was taken private in a £100m buyout in 1999. A listed company is said to have been taken private when it is bought by someone other than another listed company, and its listing is cancelled.

Alan Brown, the chief executive of CALA said: "In a relatively flat market, the Group's premium market positioning, industry leading customer service and presence in the more affluent areas of the UK such as the Home Counties, the Cotswolds, Edinburgh and Aberdeen have helped us exceed our sales and profits targets for the year, providing a firm platform from which to build."

The company's debt was reduced by £17.7m to £98.4m.

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