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Berkeley Group has posted pre-tax profit of 拢271m, up 26% on the previous year, with the firm鈥檚 boss hailing a 鈥渟trong鈥� set of results.

In its results for the year to 30 April 2013, Berkeley Group reported revenue of 拢1.38bn, up 32% from 拢1.04bn in 2011.

The firm posted pre-tax profit of 拢271m, up 26% on 拢215m the previous year.

Operating profit rose 42% to 拢280m, which came in with an operating margin of 20%.

The firm said the housing market in London and the South-east has continued to be supported by 鈥渟trong demand in good locations鈥�.

The firm said: 鈥淟ondon has maintained its position as a major global city and continued to attract more people and inward investment.

鈥淭his position brings with it an inherent demand for accommodation which is not currently being met by supply and, with the pressure on London to house a growing population and an increased number of new households more generally, this shortfall is likely to be exacerbated as new homes are not being built quickly enough to reduce it.

鈥淥utside London, visitor levels in the traditional, predominantly owner-occupier markets in which Berkeley operates have remained steady compared to last year.

鈥淭hey continue to run at below the peak levels seen prior to 2008 before the downturn, although a rise in visitors and associated activity is expected to result across the industry as the government鈥檚 Help to Buy scheme and then the Mortgage Indemnity Guarantee begins to roll out across the sector.

鈥淏erkeley considers this a positive intervention as it should help bring more people, whether trying to get onto or move up the housing ladder, into the market.鈥�

Berkeley Group chairman Tony Pidgley said he was 鈥渄elighted鈥� with a 鈥渟trong set of results鈥�.

He said: 鈥淲e have positioned Berkeley with a clear, sustainable long-term plan. I am confident that Berkeley can meet its objectives for delivering returns to shareholders, but mindful of the risks that geopolitical events, regulation, increases in taxation alongside an uncertain future tax policy and even anti-competitive rhetoric can have on the business and the wider housing market.鈥�

Other results highlights included:

• The firm invested a further 拢315m in ten new sites with some 3,000 plots - eight of the sites are in London
• Berkeley鈥檚 land bank stood at 26,684 plots with an estimated gross margin of 拢2.9bn
• The average selling price in the land bank increased from 拢345k last year to 拢378k