MJ Gleeson plc (LSE:GLE) reported a 22% rise in net reservation rates for its Gleeson Homes division, even as broader housing demand remains muted due to economic uncertainty. Since the start of FY26, the company has opened six new build sites and launched sales at five additional locations. Gleeson Land completed the disposal of two smaller sites and remains on track with its growth targets, including plans to submit 18 planning applications in the first half of the financial year. The Board expects full-year results to meet market expectations and will provide a trading update in January 2026.
The company’s outlook is supported by a solid balance sheet and a fair valuation profile, though profitability margin pressures and fluctuating cash flow temper overall confidence. Technical indicators offer a mixed picture, showing short-term positive momentum alongside potential emerging downside risk.
More about MJ Gleeson plc
MJ Gleeson plc operates two core divisions: Gleeson Homes, which builds affordable, high-quality homes across the Midlands and North of England, and Gleeson Land, which promotes and sells land for residential development across southern and central regions. The group emphasizes affordability, designing homes accessible to buyers earning the National Living Wage, while its land division focuses on unlocking value through planning and strategic site sales.
Leave a Reply