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News - 19 June 2014

Housbuilder reports profits up 40 per cent

 The Berkeley Group has reported a 40% jump in annual profits following what it called a surge in economic confidence in the last year. It said pre-tax profits for the year to 30 April were £380m, compared with £270.7m a year earlier.

 
Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“The group completed 3,742 new homes in the year, 30% more than at the peak of the housing market in 2007. Recent official figures have shown that house prices have risen 9.9% to £260,000 in the year to April, marking the biggest rise in property values in four years.”
 
Berkeley Group chairman Tony Pidgley said he was confident the company had the right plan to deliver long-term sustainable success,
 
But he added the group remained "alert to the inherently cyclical nature of the property market and the uncertainty surrounding future tax policy and political decision-making".
 
Bank of England governor Mark Carney hinted during his annual Mansion House speech that interest rates could rise earlier than expected, and Chancellor George Osborne has also announced that the government would give the Bank new powers to restrict mortgage lending to prevent the property market overheating.
 
If you need any help and advice for your business on the implications of central and local Government Funding initiatives and the construction industry, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
Brilliant with numbers  
Great with people  
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
Helping Your Business is Our Business

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