L&G-owned housebuilder Cala saw profit drop by more than a quarter in the first half of the calendar year, as the tougher market conditions ate into sales at the firm.

Insurance giant L&G, reporting interim results to June 30 this morning, revealed that its Cala Homes subsidiary had seen completions drop by 6.5% in the period to 1,428 units, from 1,527 in 2022.

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