Following forecast upgrades in December, Gleeson’s H1 update is again stronger than expected. Gleeson Homes will report volume growth of 17% in H1 to 951 completions. This represents 56% of our FY forecast. In a normal year, this probably would have prompted further forecast upgrades but we make no changes at this stage. This is a prudent position just one week into lockdown 3 but we note that (unlike in lockdown 1) building and sales can continue. The full year outturn is therefore likely to be ....
11 Jan 2021
Highly impressive H1 performance
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Highly impressive H1 performance
MJ Gleeson PLC (GLE:LON) | 492 0 0.0% | Mkt Cap: 287.5m
- Published:
11 Jan 2021 -
Author:
James Tetley -
Pages:
3
Following forecast upgrades in December, Gleeson’s H1 update is again stronger than expected. Gleeson Homes will report volume growth of 17% in H1 to 951 completions. This represents 56% of our FY forecast. In a normal year, this probably would have prompted further forecast upgrades but we make no changes at this stage. This is a prudent position just one week into lockdown 3 but we note that (unlike in lockdown 1) building and sales can continue. The full year outturn is therefore likely to be ....