LONDON (dpa-AFX) - Berkeley Group Holdings Plc (BKG.L), a British home builder, on Friday reported a decline in pre-tax income for the first half, amidst a steep drop in share of results of joint ventures. However, the Group recorded an increase in revenue.
For the six-month period to October 31, the company posted a pre-tax income of 275.1 million pounds, lower than 298 million pounds, recorded for the same period last year.
Net profit stood at 195.6 million pounds or 185.8 pence per share, compared with 211.5 million pounds or 196.7 pence per share a year ago.
Share of results of joint ventures using the equity method plunged to 7.1 million pounds from prior year's 61 million pounds.
Operating income was 258.4 million pounds, higher than last year's 231.9 million pounds.
Cost of sales increased to 940.4 million pounds from 880.3 million pounds in 2023.
Revenue was 1.278 billion pounds, up from previous year's 1.191 billion pounds.
Residential segment generated revenue of 1.275 billion pounds, higher than last year's 1.153 billion pounds.
The company will pay an interim dividend of 33 pence per share in March 2025.
Looking ahead, Rob Perrins, CEO of Berkeley Group, said: 'Despite ongoing geopolitical and macroeconomic volatility, we remain on track to achieve our pre-tax profit guidance of £525 million for the full year and at least £450 million for FY26.'
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