MJ Gleeson Plc (GLE.L), a British low-cost house builder and land promoter, announced Friday that its Board continues to expect fiscal 2025 results to be in line with current market expectations. The results would be more weighted to the second half than usual, the firm noted.
In its trading update ahead of its Annual General Meeting to be held later today, the company noted that Gleeson Homes recorded net reservation rates for the period July 1 to November 1 of 0.56 per site per week, increased from the 0.45 per site last year.
Gleeson Homes continues to experience margin pressure as a result of the use of higher sales incentives, the impact of multi-unit sales, increased build costs and limited relief from increasing selling prices.
Further, Gleeson Land is expected to deliver a full year result materially ahead of last year, with a number of significant sales expected to be completed in the second half. The Board is confident with the strong demand for consented land from large and medium-sized developers.
Gleeson will isuue its trading update for the 6 months to December 31 on January 14.
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