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Cala Group has posted record profit for the year to 30 June 2013, despite a slight fall in the average selling price of its homes and a drop in revenue, as the housebuilder increased the number of private homes it completed.

Cala posted revenue of 拢240.8m for the year, down 5% on 拢253.7m last year, with pre-tax profit, before exceptional items, of 拢12.5m, up from 拢9.1m.

The firm said the rise in profit to record levels was driven by a higher number of private home completions, although this was offset by its average selling price falling slightly from 拢340k last year to 拢335k.

The firm completed 850 homes over the financial year (2012: 875), with the number of affordable homes completed falling from 209 last year to 156 - a drop of 25%.

The firm said that the market has 鈥渕arkedly recovered since the turn of the calendar year thanks to increased buyer confidence, improving access to mortgage finance and government initiatives such as Funding for Lending and the first stage of the Help to Buy scheme鈥�.

Cala said that, while it had had limited direct benefit from these government measures, they had 鈥渟timulated buyer activity across the housing market which in turn has had positive implications on market confidence generally as well as further up the housing chain where Cala operates鈥�.

The full-year results come after Cala was acquired by Patron and Legal & General in March, alongside a 7% investment by Cala鈥檚 existing senior management team.

The firm said the transaction comprised 拢145.7m of equity, and 拢68.5m of debt, and valued Cala at 拢214.2m.

Alan Brown, Cala Group chief executive, said: 鈥淐ala has delivered another excellent performance during 2013 with a record profit for Cala Homes, improved gross margins and significant further progress in developing the length and quality of our landbank.

鈥淭o top it off, all this was achieved while going through a complex acquisition process which resulted in CALA securing the support of two blue chip financial backers that will enable us to realise our growth ambitions.

鈥淭his investment has already begun to bear fruit and we are now able to develop land within our existing landbank at a faster rate while simultaneously seeking to acquire additional plots in high growth areas such as the East of Scotland and the South of England.

鈥淭his in turn is allowing us to take on more staff and open more sites.

鈥淎s a result of all this, I am very excited about the outlook for CALA and am confident in our ability to more than double the size of the business by 2017.鈥�