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09/07/2018

CALA Unveils New Chief Executive Officer

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Edinburgh-based homebuilder CALA Group has announced Kevin Whitaker as its new Chief Executive Officer (CEO).

Mr Whitaker will take up his new role from 01 August after previous CEO Alan Brown retired in April.

He has worked for CALA since 1999, having previously been Managing Director of CALA Homes East and Land Director with CALA Homes Scotland before that.

The news was revealed as the Group posted its results for the year in the 12 months to 30 June 2018, which shows a sixth consecutive year of strong growth.

With completions up 29% to 2,171 (2017; 1,677), CALA has planning permission for 29 sites with a potential gross development value of £1.1 billion. In addition, private revenue per site per week was up 2% to £277,000 (2017; £271,000) with private sales per site per week of 0.62 (2017: 0.56).|

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In March 2018, the Legal & General Capital division of Legal & General Group acquired the 52.1% of the Group that it did not previously own. The transaction valued CALA at £605m and followed the Group's strong delivery in 2017, which saw the business achieve revenues of £747.9m alongside an operating profit of £92.8m.

Kevin Whitaker, Group Chief Executive of CALA Group, said: "I am extremely proud that Legal & General has appointed me as CALA's Chief Executive. Having spent 19 years with the company, I know about the quality of our people, culture, strategy and the homes we build, and I am very excited to get started as we continue to grow the business and deliver on our strategy.

"Legal & General's investment in the remaining part of CALA is the start of an exciting new chapter for the Group and our strong track record of delivery, combined with our growth strategy, means that we are well placed to build on the excellent momentum we have generated in recent years."

(LM)

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