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Berkeley to double shareholder returns to £1bn by 2022

London-focused housebuilder Berkeley Group plans to almost double its returns to shareholders to £1bn over the next two years in a sign that last year’s general election has returned confidence to the sector. The FTSE 100 group did not explicitly mention Brexit or the recent Conservative victory in its update on Wednesday but hinted that greater political certainty was a factor in the increase of £455m on existing plans. “Since 2016 [when the UK voted to leave the EU] like all responsible businesses, Berkeley has been mindful of the volatile operating environment and has been cautious in its investment, increasing its net cash position £107.5m to in excess of £1bn,” the housebuilder said.
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