Berkeley Group reiterates guidance for profits to grow 8%
Source - SMW
High-end housebuilder Berkeley Group reiterated its previously upgraded guidance for annual pre-tax profits to grow by 8% as the backdrop of weaker demand in London and south-east continued amid Brexit uncertainty.
The trading environment for Berkeley remained consistent with that experienced over the last two years, the company said. The housebuilder anticipates net cash at 30 April 2019 would be around the level reported at half year of £859.7m. 'While very mindful of the potential for short-term market dislocations from the current political back-drop, we remain steadfast in our belief in the long-term resilience and attraction of our markets of London, Birmingham and the South East,' the company said.