Berkeley Group Holdings (The) (BKG)

Sector:

Household Goods

Index:

FTSE 100

4,210.00p
   
  • Change Today:
      35.00p
  • 52 Week High: 4,457.00
  • 52 Week Low: 3,165.00
  • Currency: UK Pounds
  • Shares Issued: 108.44m
  • Volume: 371,527
  • Market Cap: £4,565.13m
  • RiskGrade: 234

Berkeley Group backs FY guidance even as H1 profits fall

By Michele Maatouk

Date: Friday 09 Dec 2022

LONDON (ShareCast) - (Sharecast News) - Housebuilder Berkeley backed its full-year profit outlook on Friday even as it posted a drop in first-half profits.
In the six months to the end of October, pre-tax profits dipped 2% to £284.8m as revenues fell 1.6% to £1.2bn. During the period, cash due on forward sales rose to £2.33bn from £2.17bn.

Berkeley said the value of underlying sales secured in the first half was 2% higher than the equivalent values secured in the financial year to 30 April on a like-for-like basis.

Chief executive Rob Perrins said: "Sales for the six months have been ahead of the same period last year, demonstrating the resilience of Berkeley's core markets. This includes five weeks of trading since the end of September in which the value of underlying sales has been around 25% lower than the previous five months. Pricing has remained firm throughout."

As a result of its forward sales at the start of the financial year and sales rates which have been ahead of last year, Berkeley still expects to deliver full-year profits in line with previous guidance of around £600m. However, the group cut its pre-tax earnings expectations for 2024 and 2025 to "at least" £1.05bn, down from previous guidance of around £1.25bn.

The company suggested it will be limiting new investments, focusing instead on existing sites.

"In the near-term, Berkeley will focus on matching production on existing sites to demand and delivering its forward sales over the period to 30 April 2025," it said.

"Beyond this, the current operating environment, characterised by record levels of planning tariff within an increasingly complex and slow planning system, at a time of high build costs, increased regulation and higher corporation tax, alongside the RPDT and proposed new Building Safety Levy, will inevitably continue to see a reduction in supply of new homes in London and the South East. Berkeley's delivery of new homes will therefore result in a reduction in its land holdings."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BKG Market Data

Currency UK Pounds
Share Price 4,210.00p
Change Today 35.00p
% Change 0.84 %
52 Week High 4,457.00
52 Week Low 3,165.00
Volume 371,527
Shares Issued 108.44m
Market Cap £4,565.13m
RiskGrade 234

BKG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.66% below the market average33.66% below the market average33.66% below the market average33.66% below the market average33.66% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average
Price Trend
28.15% above the market average28.15% above the market average28.15% above the market average28.15% above the market average28.15% above the market average
40.74% above the sector average40.74% above the sector average40.74% above the sector average40.74% above the sector average40.74% above the sector average
Income
36.56% above the market average36.56% above the market average36.56% above the market average36.56% above the market average36.56% above the market average
9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average
Growth
73.71% below the market average73.71% below the market average73.71% below the market average73.71% below the market average73.71% below the market average
61.54% below the sector average61.54% below the sector average61.54% below the sector average61.54% below the sector average61.54% below the sector average

What The Brokers Say

Strong Buy 5
Buy 5
Neutral 4
Sell 2
Strong Sell 0
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BKG Dividends

  Latest Previous
  Interim 2nd Interim
Ex-Div 18-Aug-22 04-Mar-21
Paid 09-Sep-22 19-Mar-21
Amount 21.25p 9.13p

Trades for 26-Jan-2023

Time Volume / Share Price
16:45 242 @ 4,198.00p
16:45 242 @ 4,198.00p
16:35 141,026 @ 4,210.00p
16:35 108 @ 4,210.00p
16:35 500 @ 4,210.00p

BKG Key Personnel

CEO Robert C G Perrins
Finance Director Richard Stearn

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