LONDON (dpa-AFX) - British property developer and house builder, The Berkeley Group Holdings plc (BKG.L), Wednesday posted nearly 3 percent growth in its pre-tax profit for the full year, reflecting sale of new homes in London and the South East.
For the year, the Group's profit before tax grew 2.9 percent to 518.1 million pounds, and basic earnings per share grew by 4.4 percent to 339.4 pence, after the group bought back about 4.4 million shares under the Shareholder Returns Programme. Pre-tax return on equity was 16.5 percent versus 16.6 percent last year.
Revenue for the year rose by 14.7 percent to £2.202 billion pounds. This comprised 2.20 billion pounds of residential revenue 1.9 million pounds of commercial revenue.
The Group said it sold 2,825 new homes during the year 2021 across London and the South East at an average selling price of 770,000 pounds, reflecting the mix of developments and varying stages thereon, mostly in London.
In a separate communique, Berkeley said Peter Vernon will be stepping down from the Board at the AGM on September 3, to take a long-planned sabbatical coinciding with his retirement from Grosvenor.
Copyright RTT News/dpa-AFX