Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
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  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Berkeley Grp Hlds (BKG)

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Monday 05 September, 2011

Berkeley Grp Hlds

Interim Management Statement

RNS Number : 5760N
Berkeley Group Holdings (The) PLC
05 September 2011
 



The Berkeley Group Holdings plc                                                                                        

Interim Management Statement

Period from 1 May 2011 to 31 August 2011

5 September 2011

 

At The Berkeley Group Holdings plc's ("Berkeley's") Annual General Meeting ("AGM") being held today, the Chairman, Tony Pidgley, will make the following Interim Management Statement, which covers the period from 1st May 2011 to 31st August 2011.

 

Berkeley embarked on a five year plan in May 2010 to achieve the following near term operating targets during a period of recovery in the wider market.

 

·           Firstly, to achieve a compound return on equity, broadly equivalent to doubling profit before tax over 5 years;

 

·           Secondly, to grow the future gross margin in the land bank from £2 billion to some £3 billion in the same period;

 

·           Thirdly, to be the market leader in place making using the Building for Life criteria.

 

With the full year results announced in June, the Board indicated its confidence that the business would maintain the reported rate of earnings growth and increase the value of the land bank in the current year. Additionally, the Board provided shareholders with long term visibility on both the timing and amount of potential returns, announcing its intention to return £13 per share (some £1.7 billion in total) over the next 10 years in a series of dividends payable on milestone dates in September 2015, 2018 and 2021.

 

Since the original plan was announced in May 2010, trading has been ahead of management expectations and Berkeley has achieved a significant number of planning consents and invested in work in progress in line with its strategy.  Together with the performance in the period since 1st May 2011, the Board believes that it is now positioned to achieve the profit target set in the five year plan at least 2 years earlier than originally anticipated, to the extent that market conditions prevail.  Market conditions in the four months ended 31st August 2011 have enabled further growth in forward sales which are currently in excess of £850 million.   

 

In respect of land bank investment, Berkeley has secured a further 7 sites in the quarter.  Additionally, Berkeley continues to focus on adding value to its existing land bank from optimisation.  Improved consents have been achieved in the period on a number of schemes, including sites in Battersea, Kew, North Bersted and Gillingham.  These successes, coupled with further investment in work in progress, indicate that market conditions, as opposed to delivery, will be the most important factor in determining the extent of further growth in the business.

 

Berkeley's emphasis on place making and putting the customer at the heart of every decision, coupled with a focus on London and the South East, has enabled it to outperform despite the well publicised wider market challenges we are experiencing.  Our ability to produce homes and places where people want to live gives us confidence that we can achieve our return to shareholders over the long term.

 

END

 

 

For further information please contact:

The Berkeley Group Holdings plc                                                            Cardew Group

A W Pidgley                                                                                         Tim Robertson

R C Perrins                                                                                           Georgina Hall

N G Simpkin                                                                                         T: 0207 930 0777

T: 01932 868555                                               


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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