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    BKG   GB00BLJNXL82

THE BERKELEY GROUP HOLDINGS PLC

(BKG)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/21 11:38:53 am
4374 GBX   -1.38%
01/21Credit Suisse Keeps Berkeley At Neutral, Lifts PT
MT
01/14Today on Wall Street: Back to reality
01/14Deutsche Bank Upgrades Berkeley To Buy From Hold, Lifts PT
MT
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Berkeley raises profit outlook as sales hit pre-pandemic levels

12/08/2021 | 03:00am EST

Dec 8 (Reuters) - Berkeley Group raised its annual profit outlook on Wednesday, after sales recovered to pre-pandemic levels on strong demand in an under-supplied UK housing market that helped the high-end British homebuilder post higher interim profit.

Berkeley, which operates mainly in London, Birmingham and the South of England, said it has increased its earnings outlook for the current fiscal year by 5%, and anticipates 5% annual profit growth for the next three years.

Cheap mortgages have underpinned the UK housing sector after a tax holiday introduced to prop up purchases was phased out in September, while robust house prices have helped the builders tackle cost pressures from supply chain disruptions, fuelled partly by Brexit and the COVID-19 pandemic.

"We have continued to deliver ... progressing construction across our portfolio of 64 live projects. These include 30 long-term, highly complex regeneration sites, of which 25 are now in delivery," said Chief Executive Officer Rob Perrins.

Cobham-headquartered Berkeley, which in September had warned of construction cost inflation and supply chain woes, said it continues to have sufficient labour, with overall sales prices offsetting the hit from higher costs.

Pre-tax profit for the six months ended Oct. 31 stood at 290.7 million pounds ($385.06 million), compared with 230.8 million pounds a year earlier.

Top three British homebuilders Barratt Developments , Persimmon and Taylor Wimpey have all forecast strong demand in spite of persistent supply chain woes.

($1 = 0.7549 pounds) (Reporting by Pushkala Aripaka and Aby Jose Koilparambil in Bengaluru; Editing by Sherry Jacob-Phillips)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BARRATT DEVELOPMENTS PLC -0.77% 674.4 Delayed Quote.-9.84%
PERSIMMON PLC -0.66% 2549 Delayed Quote.-10.75%
TAYLOR WIMPEY PLC -2.64% 156.65 Delayed Quote.-10.74%
THE BERKELEY GROUP HOLDINGS PLC -1.38% 4374 Delayed Quote.-8.48%
All news about THE BERKELEY GROUP HOLDINGS PLC
01/21Credit Suisse Keeps Berkeley At Neutral, Lifts PT
MT
01/14Today on Wall Street: Back to reality
01/14Deutsche Bank Upgrades Berkeley To Buy From Hold, Lifts PT
MT
01/14The latest from London: Investors shrug off GDP news
01/10FTSE 100 Closes Down 0.5% Dragged by Housebuilders
DJ
01/10UK gives housebuilders $5 bln bill to remove cladding
RE
2021UK shares steady as vaccine cheer offsets fears about new restrictions
RE
2021Berkeley raises profit outlook as sales hit pre-pandemic levels
RE
2021Berkeley Fiscal H1 Profit Jumps on Sales Recovery; FY22 Outlook Raised
MT
2021Earnings Flash (BKG.L) BERKELEY GROUP Reports Fiscal H1 Revenue GBP1.22B
MT
More news
Analyst Recommendations on THE BERKELEY GROUP HOLDINGS PLC
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Financials
Sales 2022 2 245 M 3 043 M 3 043 M
Net income 2022 446 M 604 M 604 M
Net cash 2022 870 M 1 179 M 1 179 M
P/E ratio 2022 11,6x
Yield 2022 9,01%
Capitalization 4 898 M 6 641 M 6 638 M
EV / Sales 2022 1,79x
EV / Sales 2023 1,88x
Nbr of Employees 2 705
Free-Float 88,5%
Chart THE BERKELEY GROUP HOLDINGS PLC
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Technical analysis trends THE BERKELEY GROUP HOLDINGS PLC
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 4 370,00 GBX
Average target price 5 159,12 GBX
Spread / Average Target 18,1%
EPS Revisions
Managers and Directors
Robert Charles Grenville Perrins CEO, Executive Director & Group Managing Director
Richard James Stearn Group Financial Controller
Glyn Anthony Barker Non-Executive Chairman
John A. Armitt Independent Non-Executive Director
Andrew William Myers Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
THE BERKELEY GROUP HOLDINGS PLC-8.48%6 641
D.R. HORTON, INC.-18.98%31 298
SEKISUI HOUSE, LTD.-6.01%13 761
PULTEGROUP, INC.-9.88%13 042
PERSIMMON PLC-10.75%11 029
BARRATT DEVELOPMENTS PLC-9.84%9 338