Berkeley Group Holdings (The) PLC Trading Statement
06 September 2024 - 4:00PM
RNS Regulatory News
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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END
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