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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 : Homebuilder Berkeley's first-half profit slumps on Brexit woes

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12/06/2019 | 03:54am EST
A builder assembles scaffolding as he works on new homes being built for private sale on a council housing estate, in south London

British homebuilder Berkeley Group Plc on Friday reported a slump in first-half pretax profit, as it sold homes at lower prices in a Brexit hit real-estate market.

With less than a week to go before an election that is expected to break the impasse over Britain's exit from the European Union, builders are weary and buyers are holding off on spending.

However, a survey from mortgage lender Nationwide showed last week that home prices rose more than expected in November, suggesting this month's national election was not putting further pressure on the market which remains sluggish.

Berkeley, which sources three-fourth of its revenue from London, in September set a pretax profit target of 3.3 billion pounds over the six years to April 2025, with profit expected to be between 500 million and 700 million pounds in any one year.

The company, which operates primarily in London, Birmingham and the South of England, said pretax profit fell 31% to 276.7 million pounds for the six months ended Oct. 31.

The FTSE-100 company, which earlier pointed that the state of London market and the South East of England was particularly strong, said the uncertainty surrounding the upcoming general election and delay to Brexit was damaging the economy.

The company delivered 1,389 homes during the period, down from 2,027 last year, while average selling price decreased 13% to 644,000 pounds.

(Story refiles for extraneous word in first paragraph)

(Reporting by Samantha Machado in Bengaluru; Editing by Bernard Orr and Rashmi Aich)

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Financials (GBP)
Sales 2020 2 067 M
EBIT 2020 526 M
Net income 2020 443 M
Finance 2020 833 M
Yield 2020 3,63%
P/E ratio 2020 14,7x
P/E ratio 2021 14,4x
EV / Sales2020 2,66x
EV / Sales2021 2,47x
Capitalization 6 323 M
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Technical analysis trends BERKELEY GROUP HOLDINGS PL
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TrendsNeutralBullishBullish
Income Statement Evolution
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Sell
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Mean consensus HOLD
Number of Analysts 16
Average target price 4 564,54  GBp
Last Close Price 5 040,00  GBp
Spread / Highest target 7,88%
Spread / Average Target -9,43%
Spread / Lowest Target -24,0%
EPS Revisions
Managers
NameTitle
Robert Charles Grenville Perrins CEO, Executive Director & Group Managing Director
Anthony William Pidgley Chairman
Richard James Stearn Group Finance Director & Executive Director
John A. Armitt Non-Executive Director
Karl Whiteman Executive Director
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