Berkeley profits surge 18%

Dec. 3, 2010
<p>Berkeley has reported a pre-tax profit of £61.6 million for the half year to the end of October, an increase of 18.5% on 2009. Revenue increased 15.9% to £336.2 million and the firm reached an operating margin of 17.4%.</p> <p>"Today's results demonstrate the underlying resilience of the housing market in London and the south east over the last six months," said Berkeley md Rob Perrins. "Since the start of the year Berkeley has acquired some 2500 plots including prime London sites in Westminster and on Hammersmith Embankment, both completing in the second half, and a site for 1000 new homes in Horsham. Berkeley's strategy is based on identifying opportunities to acquire land in the right locations to which we can add value."</p>

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