Upmarket home-builder Cala celebrated a record financial performance in the first year of its new strategy.
Total group revenue was up 79% at £511.6 million and pre-tax profit was up 90% at £50.9m.
Completions were up by more than a third to nearly a 1,000 homes in an expansion aimed at a turnover of £1 billion in five years.
Chief executive Alan Brown said the year to June 2015 had been outstanding for the group with a history dating from 1875 when it was formed as the City of Aberdeen Land Association.
Strong momentum had been built during the first full year of a new strategy, and the performance had been achieved without losing focus on the premium home-building market.
A commitment to customer service had been maintained, and Cala was now operating from around 90 sites around the UK.
A recruitment programme continues apace,which includes apprenticeship and graduate recruitment initiatives.
“Our focus is now on driving operational efficiency improvements throughout the group, which will in turn flow through to improved operating margins and return on capital employed,” he said.
Group revenues of £1bn within the next five years were targeted through delivering high quality, well designed, sustainable homes in prime locations across the UK.
Cala moved into residential development in Aberdeen in 1974 and has since expanded to Edinburgh, Glasgow and England.
In 2013, with backing of Patron Capital Partners and Legal & General, Cala embarked on a further growth drive.
It has completed a development in the Liff area of Dundee and its projects now include Kinnoull Hill in Perth, and a major restoration and new-build at Donaldson’s College in Edinburgh.