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Berkeley Group Profits Up 24%

LONDON-The mixed use and residential property developer Berkeley Group increased its pre-tax profits by 24% in the year ended 30 April 2001.

By Graham Parker | Updated on June 26, 2001

LONDON-The mixed use and residential property developer Berkeley Group increased its pre-tax profits by 24% in the year ended 30 April 2001. Pre-tax profits grew from £143.6 million ($202 million) to £178.1 million ($251 million) on turnover up from £799 million ($1.125 billion) to £867 million ($1.22 billion).

Sales of new homes were actually down from 2,915 to 2,542 units, but the average selling price rose from £251,000 ($354,000) to £278,000 ($392,000). And at the year end Berkeley had a landbank of 19,400 plots, up from 18,200 the year before.

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