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Berkeley says confident on long-term success after profit spike

Reuters - UK Focus

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LONDON, June 18 (Reuters) - British housebuilder Berkeley posted a 40 percent rise in full-year pretax profits, at the top end of its guidance, and said it was on track to deliver further growth in the long-term.

The company said on Wednesday pretax profit rose to 380 million pounds ($638.05 million) from 270.7 million a year earlier, after it said it would hit the upper end of analyst expectations.

Analysts had expected the company to post full-year pretax profits of between 309-379 million pounds, on average revenues of 1.7 billion pounds, a Thomson Reuters (Frankfurt: TOC.F - news) survey of 13 analysts showed.

($1 = 0.5956 British Pounds) (Reporting by Li-mei Hoang; editing by Kate Holton)