UK housebuilder Berkeley annual profit slumps

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(Reuters) – Housebuilder Berkeley Group Plc reported a slump in annual pretax profit as Britain’s housing sector continued to be pressured due to increasing uncertainty ahead of the country’s exit from the European Union.

The company, which operates primarily in London, Birmingham and the South of England, said on Wednesday pretax profit fell 20.7% to 775.2 million pounds in the year ended April 30, but was higher than analysts’ expectations of 730 million pounds, according to company compiled consensus estimates.

(Reporting by Samantha Machado in Bengaluru; Editing by Bernard Orr)

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