MJ Gleeson plc
(GLE.L)
Notice of Results & Trading Update
(“the Company” or “the Group”)
MJ Gleeson plc, the low-cost housebuilder and land promoter, will report results for the half-year ended 31 December 2021 on Thursday, 10 February 2022. A presentation to analysts, which will also be webcast, will be held at 9:00am.
Gleeson Homes performed well during the half-year to 31 December 2021 completing the sale of 932 homes, 14.9% more than the pre-Covid half-year to 31 December 2019 of 811 homes and just 2.0% fewer than the 951 homes sold during the half-year to 31 December 2020 (which was flattered by the carry-over of delayed completions from the first Covid lockdown at the end of the previous financial year).
Demand for our low-cost homes remains strong. Our customers continue to find the cost of owning a Gleeson home significantly lower than the cost of renting. A young couple on the National Living Wage can afford to buy a Gleeson home on any one of the Company's sites.
Land continues to be available at sensible prices. Gleeson Homes opened 8 new build sites during the half-year to 31 December 2021 and anticipates opening a total of 25 sites during the full year to 30 June 2022.
The Board re-affirms its target of delivering 2,000 homes in the year to June 2022.
Gleeson Land sold three sites during the half-year to 31 December 2021, reflecting the continued strong demand for high quality consented land from medium and large housebuilders.
Given the continued strong demand for Gleeson Homes and the positive start made by Gleeson Land, the Board expects the Group's results for the full year to 30 June 2022 to be in line with market expectations.