British high-end homebuilder Berkeley Group Holdings today maintained its profit guidance.
But it joined sector peers in highlighting a gloomy trading environment in the face of elevated borrowing costs and wider macro economic concerns.
Britain's housing market has struggled in recent months as demand slowed against the backdrop of the Bank of England's sustained run of interest rate rises to tame inflation.
The FTSE 100 builder reported a 35% slump in underlying private sales reservations in the first four months of its current fiscal year which started May 1.
Berkeley reiterated pre-tax profit guidance of £1.05 billion for fiscal years 2024 and 2025.
The copmany said it expects forward sales - an industry metric that gauges housing demand - of around £2 billion at October 31, compared to £2.14 billion on April 30.
