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Housebuilder Berkeley Group Holdings PLC on Tuesday said its trading in the first four months of its new financial year has been ahead of the financial year that ended on April 30.
‘The good level of demand continues to support pricing above business plan levels, which is sufficient to cover cost increases on a blended basis across Berkeley's developments,’ the Surrey-based company added.
‘The ongoing resilience of the sales market and second half weighting of revenue and profits, means that forward sales, representing cash due under exchanged private sales, are expected to be marginally above the £2.17 billion held at April 30, 2022,’ it explained. Cash due on forward sales to April 30, 2021 was lower, at £1.71 billion, in comparison.
Further, Berkeley noted it is on track to meet profit guidance, guiding for financial 2023, pretax profit of £600 million and £625 million for financial 2024. Berkeley reported a pretax profit of £551.5 million in financial 2022.
Berkeley shares were 5.3% higher at 3,633.00 pence each in London on Tuesday morning.
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