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Business News

Winter sales rise boosts Berkeley

A jump in sales reservations of 25 per cent over the winter has boosted the housebuilder Berkeley's confidence in its results for this year and next.

The company, which focuses on London and the Home Counties, expects earnings for the year to 31 April to be at the high end of forecasts, with further growth next year should trading conditions stay the same.

Its update prompted analysts at Numis to upgrade Berkeley's profits estimate for 2012 by 14 per cent to £160m and said earnings were on track to double between 2010 and 2014.

Berkeley's sales benefited from a rising number of outlets because the average number of visitors per site this year has stayed flat compared with a year ago, because of restrictions on mortgage availability.