Berkeley Group Holdings (LSE: BKG) has expressed strong support for the UK government’s proposed planning reforms while reiterating that the company is “on target” to meet its financial 2025 guidance. The property housebuilder stated that trading has been stable over the first four months of the financial year, positioning it to achieve its full-year target.
Berkeley expects pretax earnings of £525 million for the year ending April 30, 2025, a slight decrease of 5.8% from the £557.3 million reported in the prior year. With 90% of its earnings secured through exchanged sales contracts, the company anticipates a profit weighted towards the first half of the year.
Charlie Huggins, Manager of the Quality Shares Portfolio at Wealth Club, highlighted Berkeley’s long-standing frustration with the planning system, which has been marred by delays and regulatory changes. Huggins noted that the proposed reforms from the new Labour government, aimed at prioritising the construction of new homes, have been welcomed by Berkeley, though their implementation remains uncertain.
Berkeley Group shares were down 1.5% at 4,912.00 in early trading Friday.
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