LONDON (Reuters) - London-focused housebuilder Berkeley (L:BKGH) said on Friday that its half-year pre-tax profit rose by 80 percent to 305 million pounds due to strong demand in the capital, with the firm expecting to meet full-year market expectations.
The developer, which built 3,742 homes last year, is expected to post a full-year pre-tax profit of 455 million pounds in the current financial year, up from the 380 million it reported last year, according to a Thomson Reuters poll of 13 analysts.
Echoing comments by other housebuilders in recent weeks, Berkeley said the housing market was normalising after buoyant growth last year that had seen double-figure house price rises, spurred on by a government mortgage guarantee scheme.
(Reporting By Costas Pitas; Karolin Schaps)