ousebuilder Berkeley Group has stated it’s on observe with its revenue steering for the present 12 months after “resilient market situations” continued over the previous 4 months.
The corporate stated reservations are at present consistent with these seen two years previous to the pandemic, after seeing a “gradual firming” of the London market in latest months.
In the meantime, outdoors of London, the group stated the market has “remained strong”.
Berkeley stated it’s subsequently set to ship a pre-tax revenue for the present monetary 12 months “at or above” the £518 million reported for the 12 months to April 2021.
Revenue is anticipated to be weighted extra to the primary half of this monetary 12 months, with ahead gross sales set to be round £1.7 billion on the half 12 months.
It additionally instructed buyers on Friday that gross sales pricing has stayed above marketing strategy ranges, offsetting a bounce in constructing materials prices.
“Whereas the gross sales market has been resilient, the working setting stays difficult,” the corporate added.
“As reported within the wider market, and consistent with our year-end outcomes replace, we have now continued to expertise inflationary strain in construct prices throughout this era, principally by means of supplies, and we’re conscious of ongoing points within the provide chain and labour market ensuing from Brexit and the pandemic.”
Berkeley added that it began the present monetary 12 months with £1.1 billion in money and plans to proceed to put money into its land holdings.
In the meantime, shareholders on the group’s annual common assembly on Friday may even vote on its beforehand annual plans to return £451 million of share capital again to buyers.