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Berkeley Group fiscal H2 profit climbs 33.9% YOY

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Berkeley Group fiscal H2 profit climbs 33.9% YOY

Berkeley Group Holdings PLC said its normalized net income for the fiscal second half ended April 30 came to £1.15 per share, compared with the S&P Capital IQ consensus estimate of £1.05 per share.

EPS climbed 36.2% year over year from 84 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £176.1 million, an increase of 33.9% from £131.6 million in the year-earlier period.

Total revenue increased 37.3% on an annual basis to £1.10 billion from £799.6 million, and total operating expenses climbed 39.0% year over year to £826.3 million from £594.4 million.

Reported net income rose 12.2% year over year to £181.7 million, or £1.18 per share, from £161.9 million, or £1.04 per share.

For the year, the company's normalized net income totaled £2.40 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of £2.41.

EPS rose 57.0% from £1.53 in the prior year.

Normalized net income was £366.7 million, a gain of 54.4% from £237.5 million in the prior year.

Full-year total revenue grew 30.8% from the prior-year period to £2.12 billion from £1.62 billion, and total operating expenses rose 24.3% on an annual basis to £1.55 billion from £1.25 billion.

The company said reported net income grew 44.5% year over year to £423.4 million, or £2.77 per share, in the full year, from £293.0 million, or £1.88 per share.