<p><span>Berkeley’s pre-tax profit for its full year fell 35% against 2019, it said today (June 17).</span><span></span></p> <p><span>The housebuilder commented that the profit drop to £503.7 million during its financial year ending April 30 2020 was “anticipated" with the completion of various central London schemes acquired from 2009 to 2013.</span><span></span></p> <p><span>But, with the effects of the coronavirus crisis and subsequent lockdown, revenue also fell 35% to £1.9 billion. Sales slid to 2,723 homes from 2019’s 3,698 at an average selling price of £677,000 against last year’s £748,000. Berkeley said pricing reflected the mix of properties sold in the year.</span><span></span></p> <p><span>Berkeley’s sales during April and May were 50% below “normal market conditions” as the lockdown impacted. It is now seeing activity improve “but it is too early to determine where demand will settle over the coming months”.</span><span></span></p> <p><span>“The onset of the Covid-19 lockdown in the last five weeks of the period had a significant impact on our operating environment, but Berkeley ended the year in a strong financial and operational position as our resilient business model and agile working culture defined our response,” the business said.</span><span></span></p> <p><span>As of the end of April, Berkeley held net cash of £1,138.9 million (April 2019: £975 …