Berkeley board shaken up as Pidgley becomes chairman

The 62-year-old moved upstairs after 33 years in heaviness of the compact he set down up in Weybridge in 1976.

He is succeeded as managing chairman of the board close by Rob Perrins, the resources chairman of the board who joined Berkeley 15 years ago. Current chairman Victoria Mitchell becomes substitute chairman.

The board reorganization came after Berkeley posted a 38% descend in profits representing the year to the end of April to Ј120.4 million against Ј194.3 million hindmost period around.

Revenues cut 29.2% from Ј991.5 million to Ј702.2 million.

Pidgley said: "The sales market-place in the hindmost year has been extremely challenging as an already firm market-place became harder still.

"The desire of visibility and reduced confidence that comes with any downturn was compounded representing our customers close by the banks hardening their lending criteria.

"The hindmost fourth has, however, seen an betterment in deal levels and sales prices be obsessed stabilised. Looking forward, the trading outlook remains uncertain."