Britain's homebuilder affirms profit target

Britain's Berkeley Group reaffirmed its annual profit guidance on Friday even as it acknowledged the risk of higher inflation and elevated interest rates in the wake of the Middle East conflict, and persistent affordability pressures in its core South-East England market.

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The luxury homebuilder expects to report pretax profit of 450 million pounds ($598 million) for the year through April and a similar level for fiscal 2027, maintaining its steady outlook despite warnings from rivals that margins will remain under pressure. Berkeley said sales enquiries remain healthy and underlying reservations were recovering towards summer levels, though geopolitical and ec