Although April and May sales volumes were around half the normal level, Berkeley (BKG) is betting on a bounceback in the UK housing market by the end of its current financial year in April 2021. The housebuilder is continuing to target a cumulative return on capital employed of 15 per cent for the six years to 2025, equivalent to an average annual pre-tax profit of £500m, although it does expect two-thirds of this year’s profits to be weighted towards the second half.
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