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MJ Gleeson Plc - Notice of Results & Trading Update

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MJ Gleeson plc


Notice of Results & Trading Update

MJ Gleeson plc, the low-cost housebuilder and strategic land specialist, will report results for the half-year ended 31 December 2020 on Thursday, 11 February 2021. A video presentation to analysts followed by Q&A will be held at 9:00am.

Gleeson Homes completed the sale of 951 units during the period, an increase of 17.3% on the previous first half-year's total of 811 units. The division is on track to deliver full year unit completions at least in line with expectations.

We continue to see strong demand for our low-cost homes. The division opened 17 new sites during the first half-year and expects to open at least another 10 sites during the second half. By the end of the financial year the division expects to be actively building on approximately 80 sites and actively selling on at least 65 sites.

All sites are Covid-secure, remain open for construction and sales, and are operating in line with the most recent government lockdown requirements.

The Board re-affirms its target of delivering 2,000 units per annum in the year to June 2022.

Gleeson Strategic Land sold four sites during the first half-year. With stronger demand for high quality consented land from medium and large housebuilders the division is actively progressing the sale of a further four sites.

Given the strong demand in Gleeson Homes and the progress made by Gleeson Strategic Land the Board expects the Group's results for the full year to 30 June 2021 to be at least in line with expectations.