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MJ Gleeson Plc - Notice of Results and Trading Update 2019

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MJ Gleeson plc


Notice of Results & Trading Update

MJ Gleeson plc (GLE.L), the low-cost housebuilder and strategic land specialist, will report results for the half-year ended 31 December 2019 on Thursday, 13 February 2020.  There will be a presentation to analysts at 9:00am at Instinctif Partners, 65 Gresham Street, London, EC2V 7NQ.

Gleeson Homes completed the sale of 811 units during the period, an increase of 17.4% on the previous first half-year's total of 691 units. Demand for our low-cost homes remains strong and the Group is on track to deliver full year unit completions in line with expectations.

Gleeson Strategic Land was expecting to complete a number of land sales close to the period end. These are now expected during the second half of the year, as greater certainty has returned to the market following the result of the General Election. There remains strong demand for high quality consented land from medium and large housebuilders and this underpins the Board's expectation of a successful outturn for the division for the year.

Whilst the overall result for the first half will be significantly down on an unusually strong comparator period in Strategic Land, the strong performance of Gleeson Homes and the anticipated deal flow at Strategic Land in the second half mean that the Board remains confident that the Group's results for the full year to 30 June 2020 will be in line with expectations.