Group 1: Berkeley Group Performance - Berkeley Group shares increased by 2%, with first-half profits before tax exceeding consensus by 2% and margins improving by 60 basis points [1] - House sales fell by 4% to 2,022, slightly below the consensus forecast of 2,081, with average selling prices down by 5% to £570,000 from £600,000 [1][6] - The company reported a 7.8% decline in first-half revenue, totaling £1.18 billion, and a 7.7% drop in profits, while operating costs were reduced by 6% [6][7] Group 2: Future Outlook and Strategy - Management maintained its outlook for 2026 and 2027, reiterating pre-tax profit guidance of £450 million for the full year and a similar level for 2027 [1][7] - Berkeley is developing a build-to-rent portfolio, which is expected to enhance value by achieving better prices through holding units until rents mature, although this will incur short-term costs [2]
FTSE 100 Live: Blue-chips open in the green, Berkeley results mostly impress
Proactiveinvestors NA·2025-12-10 08:56