Berkeley Group Holdings (The) PLC Trading Statement (9483S)
15 March 2019 - 6:00PM
UK Regulatory
TIDMBKG
RNS Number : 9483S
Berkeley Group Holdings (The) PLC
15 March 2019
The Berkeley Group Holdings plc
Trading Update
Period from 1 November 2018 to 28 February 2019
15 March 2019
The Berkeley Group Holdings plc ("Berkeley" or the "Company")
today announces its Trading Update which covers the period from 1
November 2018 to 28 February 2019. Berkeley is the country's
leading place-maker, operating principally in London, Birmingham
and the South of England. We create beautiful, successful places
where communities thrive and where people of all ages and
backgrounds enjoy a great quality of life.
"The trading environment for Berkeley remains consistent with
that experienced over the last two years. This stability allows
Berkeley to reiterate the updated pre-tax profit guidance it
provided with its Interim Results in December 2018 for this, and
the next two years, which represented an increase of around 8% in
the guidance for the current year.
In this period, Berkeley has continued to invest in its brand
and place-making, working alongside its partners in the public and
private sector, to successfully bring forward the next generation
of its complex, long-term development sites that will deliver
lasting social, economic and commercial value to local communities
and the wider economy; while delivering quality new homes across
all tenures on its numerous sites in production in London and the
South of England.
That Berkeley is able to do this in the current uncertain and
volatile operating environment reflects its unique operating model,
financial strength and resources. The Group is assessing a number
of opportunities and currently anticipates net cash at 30 April
2019 will be around the level reported at half year of GBP859.7
million, subject to investment levels and timing in the intervening
period.
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.
As announced on 7 December 2018, a dividend of GBP9.2 million,
or 7.12 pence per share, was paid to shareholders on 16 January
2019. This completed the commitment to return the six monthly
GBP139.7 million, originally due by 31 March 2019, early. Of the
next GBP139.7 million return, which is committed to be made by 30
September 2019, Berkeley has so far returned GBP5.2 million via
share buy-backs."
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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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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