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Berkeley Group FY Pre-tax Profit Down

Berkeley Group Holdings plc (BKG.L) reported that its profit before taxation for the financial year ended 30 April 2020 declined to 503.7 million pounds from last year's 775.2 million pounds.

The reduction in profit before tax of 35.0% on the prior year reflected the progressive completion of a number of Central London developments acquired in the period from 2009 to 2013.

Profit after taxation for the year was 410.1 million pounds or 313.4 pence per share, down from 627.4 million pounds or 469.9 pence per share in the previous year.

Revenue for the year decreased to 1.92 billion pounds from last year's 2.96 billion pounds, primarily from the sale of new homes in London and the South East.

The company sold 2,723 homes in fiscal year 2020, compared to 3,698 homes in 2019.

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