berkeleygroup
Berkeley Group Holdings PLC (LON:BKG) posted revenue of £2.3bn, up 6.6%, as the group sold 33% more homes. Higher operating costs and a lower average selling price, due to the type of property sold, meant operating margin declined 1.2 percentage points. However, driven by higher profit from joint ventures, pre-tax profit rose 6.4% to £551.5m. Pre-tax profit is expected to come in at £600m next year, and £625m for the two years thereafter. Berkeley continues to target £282m in shareholder returns per year, in either dividends or buybacks. £63.7m has been returned so far this year, with more inf...
ValueWalk
Berkeley Group’s EarningsWhile solid results for the year, Berkeley (along with the housing sector) is seemingly much less sure about its prospects for the year ahead. And in the short term, we’d tend to agree. We heard from Rightmove this week, that demand for housing has slowed and that’s a trend that’s set to continue as the cost of living bites and interest rates are expected to rise to 3% by the end of the year. Q1 2022 hedge fund letters, conferences and more If you think many mortgages (although mostly fixed for at least a few years) were linked to a base rate of 0.25% last year, given ...
ValueWalk
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