REG - Berkeley Group Hldgs - Trading Statement

Berkeley groupAnnouncement

06/09/2024 07:00

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RNS Number : 1350D  Berkeley Group Holdings (The) PLC  06 September 2024

 The Berkeley Group Holdings plc

 Trading Update

 Period from 1 May 2024 to 31 August 2024

 6 September 2024

 

The Berkeley Group Holdings plc ("Berkeley") is holding its Annual General
Meeting ('AGM') today, at which it will provide the following Trading Update
covering the period from 1 May 2024 to 31 August 2024.

 

"Trading has been stable for Berkeley over the first four months of the year
and we are on target to achieve our pre-tax earnings guidance for the full
year ending 30 April 2025 of £525 million, 90% of which is already secured
through exchanged sales contracts.

 

Pre-tax profits for the year are expected to be weighted towards the first
half, similarly to last year, and operating margin will therefore be slightly
ahead of our long-term range (17.5% to 19.5%) for this period.  Net cash at
31 October 2024 will be around £450 million (30 April 2024: £532 million)
following shareholder returns of £229 million in the first half, including
the £184 million proposed special dividend that is subject to approval by
shareholders at today's AGM.

 

Berkeley supports the proposed changes to the planning system and the
Government's aspiration to deliver 1.5 million new homes across this
Parliament as part of its mission for growth. Achieving this ambition requires
a change of attitude and a refreshed partnership approach to allow
developments, that are currently stalled, to come forward and Berkeley is
committed to playing its full part in delivering the new homes the Country
needs.

 

This ambitious plan from the new Government brings with it a number of changes
to the operating environment, the impact of which Berkeley will fully evaluate
ahead of updating the market with its Interim Results in December."

 

 

END

 

For further information please contact:

 

The Berkeley Group Holdings
plc
Novella Communications

R J Stearn
 
Tim Robertson

T: 01932 868 555
 
T: 020 3151 7008

 

LEI: 2138009OQSSLVVHQAL78

 

 

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