UK homebuilder Berkeley says trading stable, reaffirms profit guidance
Adds sector context in paragraph 3, adds analyst comment in paragraph 6
By Aby Jose Koilparambil
Sept 6 (Reuters) -British high-end homebuilder Berkeley BKGH.L on Friday reiterated its annual profit forecast, saying trading has been stable over the first four months of its current fiscal year.
The housing market is expected to benefit from the UK's first rate cut in more than four years last month, as well as from the government's reform plans to boost land supply.
Britain's ruling Labour Party is aiming to build 1.5 million homes before the next election and develop underused areas like car parks and green spaces with low environmental value, marking a significant shift from previous policies.
Berkeley, which unlike its bigger rivals focuses on redeveloping land that was previously used for industrial purposes, said it was on target to achieve its pre-tax earnings forecast for the year to April 30 of 525 million pounds ($691.6 million).
Analysts on average are expecting annual profit of 526.7 million pounds, according to LSEG data.
"Like the rest of the industry, the group is clearly evaluating the implications of the new government's targets and policy initiatives," Investec analyst Aynsley Lammin said in a note.
The company, which operates across London, Birmingham and the south of England, said pre-tax profits for the year are expected to be weighted towards the first half, and operating margin will be slightly ahead of its long-term range of 17.5% to 19.5% for the six-month period to October end.
In June Berkeley lifted its earnings outlook for 2025, the first FTSE 100 homebuilder to do so in more than two years.
British house prices rose last month at the fastest annual pace since late 2022, data from mortgage lender Halifax showed, adding to signs of renewed momentum in the property market.
Berkeley's FTSE 100 rival Barratt BDEV.L said this week the recovery in the UK housing market is in its "early days" and that it doesn't see profit growth until fiscal 2026.
Vistry VTYV.L, the country's top builder by output, posted a 7% rise in half-year earnings, helped by resilient demand for its affordable homes.
($1 = 0.7591 pounds)
Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu, Mrigank Dhaniwala and Jan Harvey
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
