If you’d invested in: Berkeley Group and the AA
Housebuilder Berkeley Group is on track to deliver pre-tax profits of £3bn, while the AA has seen £200m wiped off its value.
If only...
Berkeley Group (LSE: BKG) is a residential and commercial property developer based in the UK. This month, it reported that it was on track to deliver pre-tax profits of £3bn over the five years ending in April 2021, with profits this year similar to the previous financial year of £812.4m. Meanwhile, the number of new construction starts in London, Berkeley's key market, has decreased 30% compared with 2015 amid Brexit uncertainty.
Be glad you didn't
AA (LSE: AA) provides automobile insurance and breakdown coverage as well as financial services. Last month saw £200m wiped off AA's value as executive chairman Bob Mackenzie was sacked for gross misconduct. It also lowered its full-year forecasts and said performance in the first half of the financial year had been hit. Last week, ongoing plans to merge its insurance business with Hastings were called off.
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Alice grew up in Stockholm and studied at the University of the Arts London, where she gained a first-class BA in Journalism. She has written for several publications in Stockholm and London, and joined MoneyWeek in 2017.
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