MJ Gleeson Plc (GLE.L) said on Friday that it expects to report profit before tax and exceptional items for fiscal 2025 within current market expectations range of between 21.0 million pounds and 22.5 million pounds.
In fiscal 2025, the housebuilding company said, its Gleeson Homes division completed the sale of 1,793 homes, slightly up from the 1,772 homes sold last year. Of these, 205 homes were sold through multi-unit sales, down from the 346 homes sold the previous year. The division is expected to report an operating profit within current market expectations, which ranges between 21.7 million pounds and 23.0 million pounds.
Gleeson added that its Gleeson Land division completed seven site disposals during the year and is expected to report an operating profit at the lower end of market expectations, in the 7.0 million pounds to 8.4 million pounds range. Three additional disposals, which were expected to be completed before year-end have now been delayed and are anticipated to close in the first half of fiscal 2026, the company added.
According to the company, there have also been notable leadership changes in fiscal 2025. Mark Knight has stepped down as Chief Executive of Gleeson Homes and left the business. The Northern division will continue under the leadership of Andy Davies, while the Central division will now be led by Scott Stothard, who joins from Vistry, where he served as Divisional Chair. Both Davies and Stothard will report to Chief Executive Officer Graham Prothero.
The company added that Simon Topliss, who earlier worked as Finance Director of Gleeson Homes, has been appointed Chief Operating Officer. In this newly created role, he will oversee central functions, performance, and governance and will also report to Graham Prothero.
Looking ahead, Gleeson said that the performance of Gleeson Land in fiscal 2026 is expected to be mostly similar to the year gone by, with activity concentrated in the latter half of the year. The business continues to see strong levels of site acquisition and planning application activity, supported by a gradually improving medium-term planning environment, the company added.
Gleeson said that taking all factors into consideration, its Board expects profit before tax and exceptional items for fiscal 2026 to be around 24.5 million pounds, which is at the lower end of current market expectations.
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