Gleeson’s update confirms a robust H1 performance despite a subdued backdrop. Gleeson Homes delivered 801 completions during H1 (H1’24: 769), with an improved net reservation rate of 0.55 (H1’24: 0.41) or 0.44 exc. bulk (H1’24: 0.39). Whilst macro conditions remain challenging, not least due to volatile borrowing costs, Gleeson Homes enters H2 with a forward order book of 597 plots (H1’24: 586 plots), which leaves it well placed for the full year. We also point to strong momentum in site opening ....

14 Jan 2025
Robust H1 outturn with FY25 outlook reiterated

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Robust H1 outturn with FY25 outlook reiterated
MJ Gleeson PLC (GLE:LON) | 496 12.4 0.5% | Mkt Cap: 289.9m
- Published:
14 Jan 2025 -
Author:
Greg Poulton -
Pages:
3 -
Gleeson’s update confirms a robust H1 performance despite a subdued backdrop. Gleeson Homes delivered 801 completions during H1 (H1’24: 769), with an improved net reservation rate of 0.55 (H1’24: 0.41) or 0.44 exc. bulk (H1’24: 0.39). Whilst macro conditions remain challenging, not least due to volatile borrowing costs, Gleeson Homes enters H2 with a forward order book of 597 plots (H1’24: 586 plots), which leaves it well placed for the full year. We also point to strong momentum in site opening ....