Berkeley fears for a slowdown
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.