Berkeley profits receive one-off boost

A £30.1m profit on the disposal of a 51% shareholding in a post-graduate accommodation scheme for Imperial College at Clapham Junction inflated the profits of Berkeley Group but even without it the London and South-East focused house builder still notched up a healthy improvement in the bottom line.

A £30.1m profit on the disposal of a 51% shareholding in a post-graduate accommodation scheme for Imperial College at Clapham Junction inflated the profits of Berkeley Group but even without it the London and South-East focused house builder still notched up a healthy improvement in the bottom line.

Profit before tax in the six months to the end of October rose 64.1% to £101.1m from £61.6m at the interim stage last year. Post-tax profits rose 67.4% to £74.0m from £44.2m last year. Return on equity improved to 20.8% from 14.4% at the half-way point last year.

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