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UK homebuilder Berkeley says robust demand offsets higher costs

·1-min read

(Reuters) - British high-end housebuilder Berkeley Group Holdings said on Tuesday underlying sales in the first four months until August were ahead of year-ago numbers, as robust demand and higher prices continued to offset rising costs.

Berkeley, which sells homes on an average for around twice the national house price, caters to an upmarket customer base, which generally is unlikely to fret over the cost-of-living crisis, but the FTSE 100 firm said it had to cope with surging build costs.

The company, which focuses on London and the South of England, said it was on track to meet its profit forecast of about 600 million pounds ($694.50 million) for the year through April 30, 2023.

($1 = 0.8639 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Sherry Jacob-Phillips)