14th Jan 2025 11:00
(Alliance News) - MJ Gleeson PLC on Tuesday said a "robust" recent six months means its expects full-year results to be ahead of the year before and in line with market expectations.
Sheffield, England-based Gleeson describes itself as a low-cost housebuilder and land promoter. Its Gleeson Homes division completed the sale of 801 homes in the half-year that ended December 31, up 4.2% from 769 a year before. Net reservation rate was 0.55 per site per week, or 0.44 excluding bulk reservations, up from 0.41 and 0.39, respectively, a year before.
The forward order book for the Homes division on December 31 was 597 plots, up from 586 a year before.
The Gleeson Land division completed no sales during the first half, but Gleeson said it is progressing some opportunities, with several planning decisions expected in the second half of the year, which ends on June 30.
Market consensus for financial 2025, compiled by Gleeson, calls for pretax profit of GBP27.9 million. This would be up from profit before tax and exceptional items of GBP24.8 million in financial 2025. Gleeson is expected to complete 1,868 homes, up from 1,772, and pay a 11.6 pence per share dividend, up from 11.0p.
Gleeson shares were up 8.0% to 477.80p on Tuesday morning in London.
By Tom Waite, Alliance News editor
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