Housebuilder makes progress in unlocking new housing sites
Housing demand has fallen back this year but remains “resilient”, housebuilder Berkeley Group has told investors in a trading statement.
Berkeley’s chairman Tony Pidgley (pictured) will tell the firm’s annual general meeting today: “Since the start of the current financial year, the market has reverted to normal transaction levels from the high point in 2013, providing a stable operating environment.
“Demand for the right product with good design in the best locations has remained resilient and, reflecting this, forward sales have been maintained at the levels previously reported.”
The trading statement covers the period from 1 May 2014 to 31 August 2014 and Pidgley said earnings for the full-year are expected to be in line with market expectations.
Berkeley said it made progress unlocking new sites for housing developments over the period and will provide a detailed update to the market in its half-year results to 31 October 2014, which will be published in December.
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