Berkeley sees stable trading but calls for deregulation

Berkeley saw “stable” trading during the first four months of its current financial year. At the same time, it has called for deregulation in London, warning that possible changes to landfill tax and further property taxation will harm investment.

In an update covering the period from May 1 to August 31 2025, Berkeley, which builds across London, Birmingham and southern England, said that trading had been similar to last year, with the business set to achieve its pre-tax earnings guidance of £450 million for the full (current) year ending April 30 2026.

Eighty five percent of this is already secured through exchanged sales contracts. It also remains on target to achieve a similar level of profit in 2027.

Pre-tax profit is likely to be weighted “broadly evenly” between the first and second half of the financial year, “subject to the timing of completions”.

Berkeley said it continued to aim for net cash of around £300 million for the end of the current financial year. This reflects shareholder returns made to date, continuing investment in its Build to Rent platform and anticipated land payments.

In its statement, Berkeley praised the government’s “positive stance” …