Berkeley shows resilience in "volatile" market

Berkeley delivered 2,022 homes in the six months to the end of October as well as 82 in joint ventures (2024: 2,103, plus 177), 89% of which are on brownfield land.

In a trading statement covering the period issued today, the firm said it had seen a resilient operating performance and established a robust financial position “amid market volatility”. It is on track to deliver FY26 and FY27 pre-tax profit guidance.

Rob Perrins, Berkeley executive chair, said: "Berkeley has delivered £254 million of pre-tax profit for the six-month period. Net cash is £342 million, after £132 million of share buy-backs, and net asset value per share is up 5% to £37.63. This highly creditable performance reflects exceptional operational execution in a very challenging macro-economic and regulatory environment, the quality of our market-leading homes and the strength of our unique long-term operating model. We remain on track to meet our pre-tax profit guidance of £450 million for this year and a similar level for FY27, along with our target for a strong net cash position.

“(Our ten-year Berkeley 2035 strategy) involves the delivery of quality new homes in our core business, investment of over £1 billion into the …