6th Sep 2024 08:58
(Alliance News) - Berkeley Group Holdings PLC on Friday welcomed planning reforms proposed by the UK government as the company also said it is "on target" to achieve guidance for financial 2025.
The Surrey, England-based property developer and housebuilder said "trading has been stable" over the first four months of the year, leaving the company on track to achieve its guidance for the year ending April 30.
Pretax earnings of GBP525 million is expected, representing a 5.8% decrease from GBP557.3 million posted in financial 2024.
90% of earnings have already been secured through exchanged sales contracts and Berkeley expects profit to be weighted toward the first half.
"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," Berkeley Group commented.
Berkeley Group shares were down 0.6% at 4,962.00 each in London on Friday morning.
By Elijah Dale, Alliance News reporter
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