Daily Mail

Berkeley fears for a slowdown

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HOUSEBUILD­ER Berkeley has warned that strong earnings growth is unlikely to last, with profits set to come in a third lower next year.

The company said pre-tax profits jumped 15.1pc to £934.9m over the 12 months to April 30, up from £812.4m a year earlier. But Berkeley said the results marked a ‘peak’ for earnings, which will return ‘to more normal levels from 2018/19, when profits are anticipate­d to be around 30pc lower’.

Chief executive Rob Perrins said: ‘At present, political and economic uncertaint­y, in part due to the uncertaint­y around Brexit, weigh on sentiment.’

Its shares fell 5.9pc, or 244p, to 3893p.

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