15th Nov 2021 10:18
(Alliance News) - MJ Gleeson PLC on Monday told its annual general meeting it remains confident that its performance in the current financial year, running to June, will be in line with market expectations.
The Sheffield-based housebuilder the average selling price on new reservations was up 12% in the year to date from the same period a year prior.
The Gleeson Homes division has a land pipeline of 15,384 plots, with a gross development value of GBP2.4 billion. In addition, the business has 82 active build sites, up from 80 sites, and is actively selling on 60 sites, down from 65 sites a year before.
Looking ahead, Gleeson Homes is expected to complete the sale of 900 homes in the six months ending December 31, the company said, and at least 2,000 homes for the financial year ending June 2022.
In addition, Gleeson Land is experiencing strong demand for consented land, and has already completed the sale of one site since the start of the financial year.
The division's land pipeline consists of 71 sites which have the potential to deliver around 22,000 plots.
"In conclusion, notwithstanding the challenges across our market, we are pleased with the progress in the year to date and remain confident that the result for the year to 30 June 2022 will be in line with market expectations," the company said.
In financial 2021, MJ Gleeson reported pretax profit of GBP41.7 million on revenue of GBP288.6 million.
Shares were flat at 788.00 pence on Monday morning in London.
By Dayo Laniyan; [email protected]
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