12th Jan 2005 12:00
Gleeson(M J)Group PLC12 January 2005 MJ GLEESON GROUP plc CHAIRMAN'S AGM STATEMENT At the AGM convened for 12:00 noon today of MJ Gleeson, the constructionservices, homes and property group, Dermot Gleeson, Executive Chairman, willsay: "Turning to the current year and beyond, prospects are substantially asindicated in my statement in the Report and Accounts. The demand for construction services remains high, particularly in the publicand utility sectors. The Engineering Division has been appointed as preferredbidder by four of the major water companies for their forthcoming five yearcapital investment programmes. In addition, Gleeson MCL has recently signed aFive Year Framework Agreement with London Underground, which is likely to have atotal value in excess of £75m. The restructuring and 'derisking' of the Group'sBuilding Divisions, announced in November, is now almost complete. I am pleasedto announce that Martin Smout, 51, a former Managing Director of CarillionBuilding, has been appointed Managing Director of Gleeson Building with effectfrom today. The prospects for the housing market in the short term remain uncertain.However, barring a substantial further deterioration in demand, the Boardremains confident that both Gleeson Homes and Gleeson Regeneration, whichspecialises in low cost homes for sale, will achieve further increases inturnover and profits. The commercial property investment market remains strong and Gleeson Propertiesalso appears on course to achieve good results in the current year. Against this background, the Board continues to believe that the Group's profitsfor the current financial year will be in line with the market's expectations." Enquiries:M J Gleeson Group plc 020-8644 4321Dermot Gleeson (Executive Chairman)Andrew Muncey (Group Managing Director)Colin McLellan (Finance Director) Bankside Consultants LimitedCharles Ponsonby 020-7444 4166 / 07789-202 312 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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