MJ Gleeson plc (LSE:GLE) reported a 12.1% increase in group revenue to £410.0 million for the year ended 30 June 2026, while adjusted profit before tax fell by approximately half.
The housebuilder completed 1,968 homes during the financial year. The group recorded a statutory loss for the period, with results affected by lower margins and reduced activity in its Gleeson Land division.
MJ Gleeson also reduced its total dividend for the year as part of measures intended to preserve balance sheet capacity.
The company said its Project Transform programme delivered operational improvements during the period, while it also tightened its land pipeline.
Gleeson Homes Starts FY27 With 848-Plot Order Book
Gleeson Homes entered the new financial year with a forward order book of 848 plots, slightly higher than at the same point a year earlier.
Average selling prices increased 3.8% during FY26, while the company reported higher reservation rates, partly supported by partnership agreements.
Management said subdued housing market conditions, planning constraints and cost inflation are expected to affect the pace of margin recovery. The group nevertheless expects its FY27 results to be in line with current market expectations.
Gleeson Land Reports Operating Loss
Gleeson Land completed fewer transactions during the financial year as developers remained cautious and planning uncertainty continued. The division reported an operating loss for the period.
Its portfolio increased to 82 sites with the potential to provide 22,749 residential plots.
Gleeson Land acquires and promotes land through the planning process before seeking to sell consented sites to residential developers.
MJ Gleeson Operations
MJ Gleeson operates through Gleeson Homes and Gleeson Land.
Gleeson Homes develops residential properties across the Midlands and North of England, with a focus on lower-priced housing. Its developments include properties ranging from one-bedroom apartments to five-bedroom houses.
The company aims to price a proportion of its homes at levels affordable to households earning the National Living Wage.
Leave a Reply