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B Berkeley Group Trading Statement Released : 12.03.2021 07:00 RNS Number : 0197S Berkeley Group Holdings ( The ) PLC 12 March 2021 The Berkeley Group Holdings plc Trading Update Period from 1 November 2020 to 28 February 2021 The Berkeley Group Holdings plc ( " Berkeley " or the " Company " ) today announces its Trading Update that covers the period from 1 November 2020 to 28 February 2021 . " Since the half year , Berkeley has continued to trade robustly . The health , safety and well - being of our people remains uppermost in our minds . As the impact of Covid - 19 continues to affect all our daily lives , we have maintained appropriate safe operating procedures across our sites , sales centres and offices to keep our customers , communities and construction teams safe , while continuing to deliver for our customers and stakeholders . Berkeley remains on track to deliver , in line with guidance , a similar profit to last year ( 2020 : £ 504 million ) and forward sales are anticipated to be above £ 1.7 billion at the year - end , representing a very strong position from which to enter the next financial year . The estimated future gross margin in the land bank is expected to be in excess of last year's £ 6.4 billion and , subject to investment levels and timing in the intervening period , net cash will be around the level reported at the half year ( £ 954 million ) . The market fundamentals remain strong with low interest rates , under - supply in Berkeley's core markets and the enduring attraction of London and the South East . In addition , Berkeley's focus on community , nature , connectivity and overall quality of place will resonate with customers as the country emerges from the pandemic . Sales reservations have been robust where we have had availability of stock . While enquiry levels have been consistently strong , Berkeley has re - profiled the launch of new developments and phases into the market until the economy opens up post - lockdown and , as a consequence , we anticipate the value of reservations for the current financial year to be around 20 % lower than last year . Pricing has been stable over the period and cancellation rates at normal levels . The current operating environment remains volatile with the period under review including both the second and third national lockdowns and the ending of the Brexit transition period . Nevertheless , Berkeley has continued to invest in its large , complex , long - term regeneration sites . Onsite labour numbers remain above pre - pandemic levels and , while we are experiencing some materials delays and price increases in specific areas , the overall impact on build costs has been neutral . We continue to invest selectively in new land opportunities , as well as focusing on planning and the myriad of other complexities associated with bringing our sites into production . Looking forward , Berkeley is on track to deliver a similar level of profitability in its next financial year and to achieve its long - term 15 % pre - tax return on equity guidance . This underpins Berkeley's ongoing commitment to retu £ 280 million per annum to shareholders through either dividends or share buy - backs ; a level it has delivered consistently since 2016 , including over the last 12 months . " The Berkeley Group Holdings plc RJ Stearn T : 01932 868 555 LEI : 21380090QSSLVVHQAL78 END For further information please contact : Novella Communications Tim Robertson T : 020 3151 7008 This information is provided by RNS , the news service of the London Stock Exchange . RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom . Terms and conditions rela to the use and distribution of this information may apply . For further information