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Fri October 30 2020

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Berkeley sees profits and revenue rise

3 Dec 10 Housebuilder Berkeley says that an increase of close to 20% in both its earnings and sales reservations over the last six months show the underlying resilience of the housing market in London and the Southeast.

Since commencing a new strategy 20 months ago to buy land at the bottom of the market, Berkeley has acquired 5,000 plots across 34 new sites in prime locations across London and the Southeast. Over the same period Berkeley has obtained 49 new or improved planning consents across its sites. 

Berkeley reported a pre-tax profit of £61.6m for the six months ended 31 October 2010, up 18.5% on the £52.0m achieved in the same period last year. Revenue was up 15.9% from £290.1m to £336.2m. 

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