Interim results reflect the challenging macro backdrop during H1. However, confidence, underpinned by improved mortgage rates, is slowly returning, evidenced by improving net reservation rates. Management has therefore narrowed its FY23 completions guidance range from 1,600-2,000 to 1,650-1,850. We therefore upgrade our expectations (see p.2), having positioned our forecasts at the bottom end of the previous range. This prompts a 4.1%/2.9% increase in our FY23/FY24 PBT forecasts. We believe valu ....
16 Feb 2023
Confidence slowly returning, with improved sales rate
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Confidence slowly returning, with improved sales rate
MJ Gleeson PLC (GLE:LON) | 492 0 0.0% | Mkt Cap: 287.4m
- Published:
16 Feb 2023 -
Author:
Greg Poulton -
Pages:
3
Interim results reflect the challenging macro backdrop during H1. However, confidence, underpinned by improved mortgage rates, is slowly returning, evidenced by improving net reservation rates. Management has therefore narrowed its FY23 completions guidance range from 1,600-2,000 to 1,650-1,850. We therefore upgrade our expectations (see p.2), having positioned our forecasts at the bottom end of the previous range. This prompts a 4.1%/2.9% increase in our FY23/FY24 PBT forecasts. We believe valu ....