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Berkeley to deliver profit target two years early
Berkeley, the London and South East house builder confirmed today that it will double profits by 2013 – two years ahead of schedule. Since setting out its five year growth plan in May last year, trading has been ahead of management expectations.
Berkeley said it has achieved planning consent at 7 significant sites since May, including landmark schemes at Battersea, Kew, North Bersted and Gillingham. The new sites will act as a springboard for growth that will help the developer double profits by 2013, and grow the future gross margin in the land bank from £2bn to some £3bn.
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