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Homebuilder Berkeley forecasts higher profit for fiscal 2023 on persistent demand

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Reuters UK

(Reuters) – British homebuilder Berkeley Group Holdings Plc forecast a 9% rise in annual profit for the 2023 fiscal on Wednesday, helped by persistent demand in an undersupplied UK housing market despite signs of a slowdown in the sector. UK house prices have remained firm although the pace of growth has slowed in recent months and some industry analysts expect the market to cool, as the surging cost of essentials from fuel to home appliances puts pressure on household finances. The FTSE 100 firm said it expects pre-tax earnings of about 600 million pounds ($733.92 million) for the year ending…

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