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Berkeley Group leaves guidance unchanged but is "mindful" of potential for disruption from political back-drop

Berkeley reiterated the updated pre-tax profit guidance it provided in December 2018 for this, and the next two years, which represented an increase of around 8% in the guidance for the current year.

Berkeley Group's development in Aldgate
Berkeley has so far returned £5.2 million via share buy-backs in the current fiscal year

The Berkeley Group Holdings PLC (LON:BKG) has issued a short trading statement in which it left full-year pre-tax profit guidance unchanged.

Reporting on trading in the period from 1 November 2018 to 28 February 2019, Berkeley said the trading environment for the group remained consistent with that experienced over the last two years.

READ: Berkeley raises profit guidance after "resilient" start to the year amid housing market slowdown

The group is assessing a number of opportunities and currently anticipates net cash at 30 April 2019 will be around the level reported at the half-year point of £859.7 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 backdrop, we remain steadfast in our belief in the long-term resilience and attraction of our markets of London, Birmingham and the South East,” the housebuilder said.

Quick facts: Berkeley Group

Price: 4560 GBX

LSE:BKG
Market: LSE
Market Cap: £56.47 m
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