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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Berkeley Group Holdings plc    BKG   GB00B02L3W35

BERKELEY GROUP HOLDINGS PLC

(BKG)
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Berkeley : UK homebuilder Berkeley flags hits from new lockdown, Brexit as profit slides

12/04/2020 | 03:07am EST

(Reuters) - Berkeley Group said on Friday the coming months would be crucial to gauge the impact of new COVID-19 lockdowns and Brexit, after posting a 16.6% fall in first-half profit as home sales were dented by the pandemic.

Berkeley, one of Britain's biggest housebuilders by market value, said the number of homes sold during the period fell to 1,104 from 1,389 a year earlier, while the average selling price jumped 24% to 799,000 pounds.

British house prices rose by the most in nearly six years in November, mortgage lender Nationwide said on Tuesday, as a boom in the housing market accelerated while the broader economy struggled with the pandemic.

Housing market conditions are closely linked with consumer confidence, which has taken a hit since Britain decided to leave the European Union. The Brexit transition period is due to end this year, with the trade deal between the European Union and the UK hanging in the balance.

Berkeley said it was firmly on track to deliver its average annual pre-tax profit outlook of about 500 million pounds this fiscal year as pent-up demand and tax cuts for home buyers spurred demand.

Forward sales increased to 1.94 billion pounds at Oct. 31 from 1.86 billion pounds at April-end.

The company, which operates primarily in London, Birmingham and the South of England, said pretax profit fell to 230.8 million pounds ($310.45 million) for the six months ended Oct. 31 from 276.7 million pounds a year earlier.

(Reporting by Yadarisa Shabong and Shanima A in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BERKELEY GROUP HOLDINGS PLC -0.25% 4456 Delayed Quote.-5.80%
EURO / BRITISH POUND (EUR/GBP) 0.06% 0.8894 Delayed Quote.-0.48%
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Financials
Sales 2021 2 063 M 2 809 M 2 809 M
Net income 2021 418 M 569 M 569 M
Net cash 2021 978 M 1 332 M 1 332 M
P/E ratio 2021 13,2x
Yield 2021 4,48%
Capitalization 5 567 M 7 557 M 7 580 M
EV / Sales 2021 2,22x
EV / Sales 2022 2,09x
Nbr of Employees 2 844
Free-Float 87,9%
Chart BERKELEY GROUP HOLDINGS PLC
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Berkeley Group Holdings plc Technical Analysis Chart | BKG | GB00B02L3W35 | MarketScreener
Technical analysis trends BERKELEY GROUP HOLDINGS PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 4 944,37 GBX
Last Close Price 4 467,00 GBX
Spread / Highest target 39,9%
Spread / Average Target 10,7%
Spread / Lowest Target -10,6%
EPS Revisions
Managers and Directors
NameTitle
Robert Charles Grenville Perrins CEO, Executive Director & Group Managing Director
Glyn Anthony Barker Non-Executive Chairman
Richard James Stearn Group Finance Director & Executive Director
John A. Armitt Non-Executive Director
Karl Whiteman Executive Director
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