14th Nov 2025 09:59
(Alliance News) - MJ Gleeson PLC on Friday said it expects its financial 2026 results to be in line with market expectations, but it cautioned on the potential impact from the upcoming UK government budget, which is expected to include tax increases.
Gleeson is a Sheffield, England-based housebuilder and land promoter.
Current market consensus is for pretax profit of GBP24.3 million in the financial year that ends June 30, 2026, the company said. This would be up from GBP20.5 million in financial 2025, though still slightly down from GBP24.8 million in financial 2024.
The Gleeson Homes division reported a marked improvement in demand, with its net reservation rate, including bulk sales, rising to 0.92 per site per week in the eight weeks to November 7 from 0.46 a year earlier. Its open-market net reservation rate was 0.50 per site per week during that period, up 22% from 0.41.
Gleeson Homes is currently selling on 59 sites, down from 64 a year before. The company blamed "resource-constrained" local planning authorities in the UK for impeding the opening of new sites.
"Demand for new homes remains subdued, but steady, with buyers lacking confidence in the current economic environment," Gleeson added.
The Gleeson Land division has completed the sale two small sites since the start of the financial year in July. The sale of one other site, representing half of all plots budgeted to be sold in the current year, remains dependent on finalising a technical solution, the company noted.
Separately, Gleeson said it has hired Keith Adey as an independent non-executive director, starting on January 1. Adey was chief financial officer of housebuilder Bellway PLC until December last year.
Gleeson will provide a trading update for the half-year ending December 31 on January 16. Full interim results will be released on February 11.
The stock was down 1.0% to 373.32 pence early Friday in London.
By Tom Waite, Alliance News editor
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