Berkeley’s profit rises 26 per cent

Housebuilder Berkeley Group posted a 26 per cent rise in full year pre-tax profit yesterday and said its 10-year plan to return £1.7bn to shareholders was on track. The London-focused developer said pre-tax profit for the year to the end of April rose to £270.7m from £214.8m in the previous year. Berkeley said that the value of its land bank rose 10.5 per cent to £2.85bn after it invested £315m in new land during the year. It said it will pay an interim dividend of 59p per share in September 2013.