Cala’s profit up by 27%

Annual profit at Cala is forecast to have risen by 27% to £169m. Preliminary results for last year suggest that turnover at the housing developer rose by 9% to nearly £1.4bn. The number of home completions increased by 4% to 3,027, while the average sales price was £492,000, compared with £462,000 in the previous 12 months. Cala, which is owned by Legal & General, said the rise in prices reflected the mix of different homes it sold. The Times (£)