Half Year Results 

Berkeley Group increases full-year guidance

Berkeley Group increases full-year guidance

A sharp drop in profits in the six months to October 2018 had already been well signposted, as Berkeley Group (BKG) warned back in June that profits had peaked. Still, it’s not all bad news because the housebuilder has upped its guidance on full-year profits by 5 per cent, and has extended planned returns to shareholders of £280m a year from 2021 to 2025. It’s also sitting on £860m in cash, while cash due on forward sales amounts to £1.9bn, albeit down from £2.2bn in April, but healthy enough.

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