Scottish housebuilder Cala Homes this week reported a pre-tax loss of 拢33.9m on turnover of 拢168.9m for the year ending 30 June 2009

This compared with a loss of 拢266.1m on turnover of 拢175.2m in the previous 12 months. The housebuilder provided details of a debt-for equity refinancing it completed on 21 December last year with its principal banker, Bank of Scotland. The refinancing left the bank and the company鈥檚 three directors as the only voting shareholders.

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