Gleeson’s interim results were well flagged in the January update. The H1’24 outturn reflects a robust performance against a challenging backdrop. PBT reduced to £7.2m in H1’24 (H1’23: £16.1m), with 29% of our FY24 PBT forecast delivered in H1 (typically c.48%). We are confident in an H2 recovery given: 1) the strength of the Gleeson Homes forward order book (586 plots vs. 319 at Dec. ‘22), 2) improving reservation rates into the busier selling season (0.50 in the last five weeks vs. 0.41 in H1) ....
15 Feb 2024
H2 outlook supported by early signs of recovery
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
H2 outlook supported by early signs of recovery
MJ Gleeson PLC (GLE:LON) | 500 45 1.8% | Mkt Cap: 291.6m
- Published:
15 Feb 2024 -
Author:
Greg Poulton -
Pages:
3
Gleeson’s interim results were well flagged in the January update. The H1’24 outturn reflects a robust performance against a challenging backdrop. PBT reduced to £7.2m in H1’24 (H1’23: £16.1m), with 29% of our FY24 PBT forecast delivered in H1 (typically c.48%). We are confident in an H2 recovery given: 1) the strength of the Gleeson Homes forward order book (586 plots vs. 319 at Dec. ‘22), 2) improving reservation rates into the busier selling season (0.50 in the last five weeks vs. 0.41 in H1) ....