Home News Berkeley Group Holdings Reports Rise in Pretax Profit

Berkeley Group Holdings Reports Rise in Pretax Profit


Berkeley Group Holdings has announced an extension to its guidance by an additional year, following a rise in pretax profit for the first half of the year. Despite selling fewer houses, the UK-based house builder reported higher average prices. The company now expects to deliver a pretax profit of at least £1.5 billion ($1.89 billion) over the three years ending April 30, 2026, compared to previous guidance of £1.05 billion for the two years ending April 2025.

Commitment to Shareholders

Berkeley Group Holdings has also reaffirmed its commitment to distributing £283 million, or £2.67 per share, to shareholders by September 30, 2024.

Strong Financial Performance

Pretax profit for the half year ended October 31 increased to £298.0 million from £284.8 million in the same period the previous year. Although revenue slightly decreased from £1.20 billion to £1.19 billion, the net asset value per share rose to £32.19 compared to £31.01 on April 30.

Change in Property Sales

During the period, Berkeley delivered 1,785 new homes at an average price of £624,000. This is a decrease from the previous year, where 2,080 homes were sold at an average price of £560,000. The change in figures reflects the mix of properties sold during this period.

Forward Sales

Berkeley reported forward sales of £1.96 billion, lower than the £2.14 billion reported at the end of fiscal 2023.


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