Berkeley Group Says 5% Increase In Guidance For FY25's Pre-Tax Profit To £525 Million
June 19 (Reuters) -Berkeley Group Holdings PLC BKGH.L:
FY REVENUE 2,464.3 MILLION STG VERSUS 2,550.2 MILLION STG REPORTED LAST YEAR
5% INCREASE IN GUIDANCE FOR FY25'S PRE-TAX PROFIT TO £525 MILLION, WITH GUIDANCE FOR FY26 RE-AFFIRMED AT £450 MILLION
5% INCREASE IN GUIDANCE FOR FY25'S PRE-TAX PROFIT TO £525 MILLION
IN YEAR, WE HAVE DELIVERED 3,500 NEW PRIVATE AND AFFORDABLE HOMES
PRE-TAX PROFIT GUIDANCE FOR FY26 RE-AFFIRMED AT £450 MILLION
ON TARGET TO DELIVER £283 MILLION (£2.67 PER SHARE) OF SHAREHOLDER RETURNS BY 30 SEPTEMBER 2024
BERKELEY IS TARGETING AT LEAST £975 MILLION OF PRE-TAX PROFIT ACROSS NEXT TWO YEARS
CHALLENGE IN THE NEAR-TERM IS MAINTAINING PRE-TAX RETURN ON EQUITY ABOVE OUR 15% HURDLE RATE
NEAR TERM OPERATING MARGINS EXPECTED TO BE WITHIN LONG-TERM HISTORICAL RANGE (17.5% TO 19%)
FURTHER £34.9 MILLION (33.00 PENCE PER SHARE) INTERIM DIVIDEND TO BE PAID ON 26 JULY
NEAR TERM PRE-TAX ROE WILL BE ABOVE 15% FOR PERIOD AS A WHOLE BUT IS LIKELY TO FALL SLIGHTLY BELOW THIS FOR FY26
SPECIAL DIVIDEND OF £184.0 MILLION (174 PENCE PER SHARE) TO BE PAID IN SEPTEMBER 2024 ACCOMPANIED BY A SHARE CONSOLIDATION
NOTES OUTCOME OF COMPETITION AND MARKETS AUTHORITY MARKET STUDY INTO HOUSE- BUILDING, WHICH CONCLUDED ON 26 FEB
WE CONTINUE TO COOPERATE WITH THE CMA AND THEIR ENQUIRIES
FOR BERKELEY, BUILD COST INFLATION IN TODAY'S MARKET IS AT NEGLIGIBLE LEVELS APART FROM SOME ISOLATED TRADES WHERE DEMAND IS HIGH
Source text for Eikon: ID:nRSS9379Sa
Further company coverage: BKGH.L
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