LONDON (dpa-AFX) - British property developer and house-builder Berkeley Group Holdings plc (BKG.L), on Tuesday, reported that it has continued to trade well during the first four months of the new financial year, with the value of underlying sales ahead of the financial year ended 30 April 2022.
The company stated that the good level of demand continued 'to support pricing above business plan levels, which is sufficient to cover cost increases on a blended basis across Berkeley's developments.'
Consequently, Berkeley noted that it is on track to meet its profit guidance and deliver a pre-tax profit for the current financial year ending 30 April 2023 of £600 million and £625 million for the year ended 30 April 2024.
The company expects profit for the current financial year to be around 55 per cent weighted to the second half, in line with production scheduling.
As announced on 11 August 2022, a dividend of £23.3 million, or 21.25 pence per share, will be paid to shareholders on 9 September 2022 with the remainder of the £141.1 million return for the six months ending 30 September 2022 having already been satisfied through share buy-backs.
The company also announced that it will provide the next £141.1 million shareholder return by 31 March 2023 through a combination of dividends and share buy-backs. Of this, £38.3 million has already been returned through share buy-backs.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
