The Berkeley Group’s pre-tax profit decreases by 17% in the first half year

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California-based Berkeley Group Holdings plc (LON: BKG) said on Friday that its pre-tax profit for the first half of the year was 17% lower than last year. However, the company reaffirmed its guidance for the full year. The real estate developer had experienced a 35% decline in annual pre-tax profit last year due to COVID-19 disruptions.

On Friday, Berkeley Group opened with a loss of about 3%, but recovered most of the intraday loss in the next hour. Berkeley Group is now changing hands at £48 per share, up from the previous year’s low of £31.31 per share in March. The Berkeley Group shares, which you can buy online here, were purchased at the beginning of the year at £49.48 per share.

 

 

 

Earnings before tax for the year forecast by Berkeley at £500 million pounds sterling

Berkeley Group said its pre-tax profit for the six months ended 31 October was £230.8 million. This compares with a higher pre-tax profit of £276.7 million in the same period last year. In a separate UK news release on Friday, “Pets at Home” became the last UK retailer to return COVID 19 tax breaks.

For the full financial year, the UK property developer is forecasting a pre-tax profit of £500 million – unchanged from its forecast earlier this year. Berkeley Group had £954 million in cash at the end of the first half of the financial year.

In terms of revenue, the Cobham-based company recorded £895.9 million in the first half of the year, a decrease of 3.8 per cent from the previous year. Berkeley also said on Friday that the net asset value per share increased by 0.4% to £24.82 in the first half of the financial year.

The Berkeley Group valued forward sales at £1.94 billion.
Berkeley Group Holdings plc (LON: BKG) said on Friday that its pre-tax profit for the first half of the year was 17% down on the same period last year. However, the company reaffirmed its forecast for the full year. The real estate developer had experienced a 35% decline in annual pre-tax profit last year due to COVID-19 disruptions.

The Berkeley Group opened Friday with a loss of about 3%, but recovered most of the intraday loss in the next hour. Berkeley Group is now changing hands at £48 per share, up from the previous year’s low of £31.31 per share in March. The Berkeley Group shares, which you can buy online here, were purchased at the beginning of the year at £49.48 per share.

 

 

 

Berkeley forecasts an annual profit before taxes of 500 million pounds sterling

The Berkeley Group said its pre-tax profit for the six months ended 31 October was £230.8 million. This compares with a higher pre-tax profit of £276.7 million in the same period last year. In a separate UK news release on Friday, “Pets at Home” became the last UK retailer to return COVID 19 tax breaks.

For the full financial year, the UK property developer is forecasting a pre-tax profit of £500 million – unchanged from its forecast earlier this year. The Berkeley Group had £954 million in cash at the end of the first half of the financial year.

In terms of revenue, the Cobham-based company recorded £895.9 million in the first half of the year, a decrease of 3.8 per cent from the previous year. Berkeley also said on Friday that the net asset value per share increased by 0.4% to £24.82 in the first half of the financial year.

The Berkeley Group valued forward sales at £1.94 billion.

According to the Berkeley Group, it delivered 1,104 homes in the first half of the year. The average price during this period was £799 thousand, compared with £644 thousand in the previous year. The property developer had delivered 1,389 houses in the first six months of the previous financial year.

The forward sales, added the FTSE 100 company, are currently valued at £1.94 billion. Berkeley said it is committed to making annual payments of £280 million to shareholders by 30 September 2025. The next payment of 140 million pounds sterling is expected by March 31, 2021.

The Berkeley Group has performed largely positively in the past year with an annual profit of around 40% in the stock market. At the time of writing this article, it is estimated at £5.90 billion and has a price-earnings ratio of 15.04.
According to the Berkeley Group, it delivered 1,104 houses in the first half of the year. The average price during this period was £799 thousand compared with £644 thousand in the previous year. The property developer had delivered 1,389 houses in the first six months of the previous financial year.

The forward sales, added the FTSE 100 company, are currently valued at £1.94 billion. Berkeley said it had committed to making annual payments of £280 million to shareholders by 30 September 2025. The next payment of £140 million is expected by 31 March 2021.

The Berkeley Group’s performance last year was largely positive with an annual profit of around 40% in the stock market. At the time of writing, it is estimated at £5.90 billion and has a price-earnings ratio of 15.04.

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