Berkeley Group Holdings PLC (LSE:BKG) has warned housing sales remain dampened but said enquiry levels are good as hopes build of political and economic uncertainties receding.
Berkeley repeated guidance for £1.5 billion of pre-tax profit in the three years to April 2026, adding the figure was set to sit at £550 million this year.
Sales rates remained around a third lower than last year in the three months to February, Berkeley updated on Friday, remaining consistent with trends over the first half.
That said, Berkeley reassured enquiry levels were good, as prospective “buyers look for the prevailing political and economic uncertainty to recede and interest rates to begin to fall”.
Berkeley added that all sales for the year to April were now secured, while 70% had been firmed up for next year, with cash due on these having moderated from £1.96 billion as of October.
Cost inflation has also moderated and become “negligible” across most building trades, as per Berkeley, while pricing remains stable.
Berkeley also doubled down on plans to return £227 million to shareholders in September, with net cash at the year-end due to sit at £442 million.
Shares climbed 0.3% to 4,693p.