StockMarketWire.com - Homebuilder Berkeley raised its guidance on annual earnings after reported a rise in profit in the first half of the year.

For the six months ended 31 October, pre-tax profit rose by 26% to £290.7 million year-on-year as revenue increased 36.3% to £1.22 billon.

Revenue was boosted by a rise in sales to 1,828 homes, up from 1,104, at an average selling price of £647,000, down from £799,000.

Earnings expectations for the current financial year ending 30 April 2022 was raised by around 5% from the current guidance which was for pre-tax profits to be at a similar level to last financial year of £518.1 million.

Looking further ahead, the company expected to generate 5% annual pre-tax profit growth for the next three financial years.

Berkeley expected deliver approximately £625 million of pre-tax profit for the year ending 30 April 2025.



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