Berkeley shares rise on reaffirmed long-term guidance

March 14, 2025 09:07 PM AEDT | By Investing

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Berkeley shares rise on reaffirmed long-term guidance

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Investing.com -- Shares of Berkeley Group Holdings PLC (LON:BKGH) climbed 1.97% on Friday as the company reaffirmed its profit before tax (PBT) guidance for fiscal years 2025 and 2026, with expectations to deliver at least £975 million across the two years.

This confidence comes despite a slight downward revision in the anticipated net cash position for April 2025, which is now expected to be around £300 million, a bit lower than the £350 million previously estimated.

The uptick in Berkeley's stock follows the announcement that the company has made significant progress on 10 long-term regeneration sites and is in the process of finalizing Section 106 agreements and clearing conditions to implement these plans.

Although the company has expressed concerns over the pace of regulatory changes, the management's ability to navigate this challenging environment has been noted.

Barclays (LON:BARC) analysts have observed a modest improvement in sales reservations since the interim results were reported in early December, with sales rates surpassing those from the same period last year. "The group has seen the modest improvement in sales reservations that it noted at the time of the interim results in early December continue since then. Sales rates are ahead of those achieved during the same period last year," the analysts said in a note.

Investors appear to be reassured by the company's steady performance and its proactive measures to accelerate shareholder returns, which have included £71.3 million in share buy-backs, purchasing 1.9 million shares at an average price of £37.92 each.

This article first appeared in Investing.com

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