Revenue for the year was 拢1,372.6m (2012: 拢1,041.1m). Pre-tax profit was 拢270.7m (2012: 拢214.8m).
The company invested 拢314.6m in land during the year to acquire 10 new sites totalling 3,021 residential plots.
鈥淭he growth in earnings this year is a direct result of a period of sustained investment since early 2009 during which Berkeley has committed over 拢1bn to new land and 拢2.4bn to construction and completed over 12,000 new homes in London and the south of England,鈥� said chairman Tony Pidgley. 鈥淭his investment has enabled us to regenerate derelict sites across the region, sustaining 16,000 jobs through increased activity and committing some 拢250m towards crucial local infrastructure improvements including schools, surgeries, parks and playgrounds.鈥�
Managing director Rob Perrins said that Berkeley was ahead of track in its plan to return money to shareholders. 鈥淏erkeley has agreed a long-term strategic plan with shareholders to return 拢1.7bn in cash by meeting three milestone payments of 拢568m in 2015, and 拢567m in 2018 and 2021,鈥� he said. 鈥淜ey to the group's ability to meet these milestones is the underlying quality of the land bank. Having increased the estimated gross margin in the land bank by 拢272m to 拢2,852m this year, Berkeley is currently on course to outperform its short-term target to deliver the first milestone payment of 拢568m by 30 September 2015 from retained earnings.聽
鈥淎dditionally, planning successes in the year mean that the land bank is currently in place from which to meet both the first and second milestones, some 拢1.14bn in cash in total.鈥�
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