Berkeley is expected to report an increase in pre-tax earnings by nearly 60 per cent

Georgina Varley
Repossessions Continue To Increase Due To Economic Downturn
Trading has successively stabilised (Source: Getty)

Housebuilder Berkeley is expected to report pre-tax earnings of £757m in the 12 months to the end of April, compared with £480m the year before.

This represents a climb of 58 per cent.

Read more: Glimmer of hope: Berkeley Group says London's housing market's "stabilised"

Following the Brexit vote, Berkeley fell out of the FTSE 100. The company’s last trading update, covering November 2016 to February 2017, showed that trading had successively stabilised.

This week's results are set to underline that it has defied the recent downturn in London’s property market.

Read more: What the General Election results mean for house prices

Although things are looking bright for the company, Berkeley isn't free of its problems.

Demands made by planners that require housebuilders to make provisions for schools and other public realm improvements has led to a decrease in the number of new residential construction projects that Berkeley can carry out in the capital.

Founder Tony Pidgley, who is worth over £250m, pocketed £21.5m in pay and bonuses last year.

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