Another housebuilder posts increased profits – and forecasts further improvements

Berkeley is the latest housebuilder to report a healthy increase in profits.

The Surrey-based company says its pre-tax profits rose by 26 per cent to £270.7 million during the financial year to the end of April.

It sold 3,712 new homes compared with 3,565 over the same period in 2012. The company also invested £314.6 million in land and acquired a further 3,021 residential plots.

Berkeley said that the housing markets of London and the south of England were “supported by strong demand in good locations”.

In other areas, visitor levels at its sites have been below their pre-downturn peak, but the company expects this will change.

Berkeley Group Holdings managing director Rob Perrins said: “A rise in visitors and associated activity is expected to result across the industry as the government’s Help to Buy scheme and then the Mortgage Indemnity Guarantee begins to roll out across the sector.

“Berkeley considers this a positive intervention as it should help bring more people, whether trying to get onto or move up the housing ladder, into the market.”

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One Response to Another housebuilder posts increased profits – and forecasts further improvements

  1. orangeamber says:

    Reblogged this on pinkpig7 and commented:
    YES, BUT WHERE ARE THE PLACES FOR FOLK TO LIVE AT, WHO DO NOT HAVE XYZ TO BUY?????????????

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