LONDON (dpa-AFX) - Berkeley Group (BKG.L), a British property and house builder, on Wednesday reported a fall in pre-tax profit for the full year, amidst a decline in revenue.
Following the news, BKG was trading down by 3.79 percent at 4,820 pence on the London Stock Exchange.
In addition, the Group has revised up its fiscal 2025 pre-tax profit guidance, while reaffirming outlook for the full-year 2026.
For the 12-month period to April 30, the Group recorded a pre-tax profit of 557.3 million pounds, lesser than 604 million pounds last year.
Net profit slipped to 397.6 million pounds or 371.1 pence per share from last year's 465.7 million pounds or 422.4 pence per share.
Operating profit was at 479.7 million pounds, compared with 518.3 million pounds in 2023.
Revenue stood at 2.464 billion pounds as against previous year's 2.550 billion pounds.
The company will pay an interim dividend of 33 pence per share on July 26 to shareholders on the register as of June 27.
In addition, the Group will pay a special dividend of 174 pence per share in September accompanied by a share consolidation, subject to approval.
Looking ahead, Rob Perrins, Chief Executive of Berkeley, said: 'Berkeley continues to benefit from a strong order book and has already secured 80% of its sales for next year, underpinning today's 5% increase in guidance for FY25's pre-tax profit to £525 million, with guidance for FY26 re-affirmed at £450 million.'
In addition, Berkeley aims to register at least 975 million pounds of pre-tax profit across the next two years.
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