Earnings data drives housebuilder Berkeley higher

British housebuilder Berkeley said its full-year earnings could rise towards the top end of expectations and accelerated a dividend payout to shareholders, sending its share price to an all-time high.

It also said it would pay an interim dividend of 90 pence per share in January 2014, up from the 15 pence paid last time and ahead of its original timetable, and would maintain a regular distribution of dividends in the period to September 2015.

Analysts expect the company to post full-year pretax profits of between £300 million and £374 million, on revenues which on average are forecast to come in at £1.5 billion.

Pretax profits for the six months to the end of October rose 19.2 per cent to £169.5 million, on a 19.7 per cent increase in revenue to £821 million.
– (Reuters)