LONDON, Dec. 6 (Xinhua) -- British housebuilder Berkeley Group reported on Friday a sharp fall in its profit before tax and revenue for the six months to Oct. 31 amid Brexit uncertainty.
According to Berkeley's financial statement, the profit before tax for the six months to October was 276.7 million pounds (363.5 million U.S. dollars), down 31 percent year on year from the same period of 2018.
Berkeley's revenue stood at 930.9 million pounds, down 43.7 percent from the same period of 2018.
"Berkeley's net cash of 1,060.6 million pounds continues to reflect the under-investment of the last three years, commensurate with the uncertain operating environment," said Rob Perrins, chief executive of Berkeley Group.
Perrins said the company remained "alert" to the market risks with a general election next week and the delay of Brexit, which was prolonging the uncertain operating environment of the last three years.
"This is damaging to our economy and London where fewer developers are prepared or able to accept the high operational risk of bringing forward new homes, with supply falling as a consequence," Perrins added.
Founded in 1976, Berkeley Group was listed on the London Stock Exchange in 1985 as a FTSE 100 company. (1 pound = 1.31 U.S. dollars)
