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Berkeley Group's fiscal H1 pretax profit down 31% YOY

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Berkeley Group's fiscal H1 pretax profit down 31% YOY

The Berkeley Group Holdings PLC's pretax profit for the six-month interim period ended Oct. 31 fell 31% year over year to £276.7 million from £401.2 million.

The U.K. homebuilder said the reduction in profit was anticipated and reflects the completion of a number of developments in Central London.

EPS declined 28.3% annually to 176.4 pence from 246.0 pence.

The company's revenue fell 43.7% year on year to £930.9 million from £1.65 billion.

The company sold 1,389 houses for an average of £644,000 per house during the period, compared to 2,027 units sold in the prior-year period at an average price of £740,000.