Berkeley Group has posted a 9.5% increase in its annual pre-tax profit.

The brownfield regeneration specialist, in its results for the year to 30 March, today reported pre-tax profit of £604m, up from £552m the previous year.

The group said it had met its profit expectation for the year, and said it is also on track to hit more than £1bn of pre-tax profit over the next two years. Its turnover increased 8.6% to £2.5bn.