MJ Gleeson set to report year in line with expectations

(Sharecast News) - MJ Gleeson said in an update on Friday that adjusted pre-tax profit for the year ended 30 June was expected to be in line with market expectations, supported by a robust performance from Gleeson Homes despite previously flagged delays to site sales at Gleeson Land. Gleeson Homes completed 1,968 sales, up 9.8% year on year, including 320 partnership completions and 301 private multi-unit sales, while the forward order book edged up to 848 plots.

Gleeson Land completed five site sales and is expected to report a small operating loss after three transactions slipped into FY2027.

Chief executive Graham Prothero said the group had delivered "a robust operating result" in a subdued housing market and entered the new financial year with Gleeson Homes "in far better shape" following its operational restructuring.

At 1056 BST, shares in MJ Gleeson were up 3.48% at 241.11p.

Reporting by Josh White for Sharecast.com.

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