Since setting out its five year growth plan in May last year, trading has been ahead of management expectations.
Berkeley said it has achieved planning consent at seven significant sites since May, including landmark scheme at Battersea, Kew, North Bersted and Gillingham.
Chairman Tony Pidgley will tell shareholders at the firm’s agm today that Berkeley is now on course to achieve the profit target set in the five year plan in 2010 at least 2 years earlier than originally anticipated, to the extent that market conditions prevail.
The new sites will act as a springboard for growth that will help the developer double profits by 2013, and grow the future gross margin in the land bank from £2bn to some £3bn.