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MJ Gleeson sees annual results 'significantly' ahead of market expectations as profit jumps in H1
StockMarketWire.com
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MJ Gleeson said full-year results were expected to be 'significantly' ahead of current market expectations as strong demand for low-cost homes continued to boost performance in the first half of the year.
For the half year ended 31 December, pre-tax profit rose 5.6% to £20.3 million year-on-year and revenue was up 35.8% to £142.6 million.
Homes sold increased 17.3% to 951 homes at an average selling price of £140,600, up 9.1% from £128,900 last year.
'Gleeson Homes opened a record 17 sites during the first half, enters the second half with a strong forward order book and now expects to deliver 1,775 homes in the current financial year,' the company said.
'The timing of opening sites for sales means that we are comfortably on track to deliver our original target of 2,000 homes next financial year,' it added.
At 9:15am: (LON:GLE) Gleeson M J Group PLC share price was 0p at 650p
Story provided by StockMarketWire.com
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