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Sparks

MJ Gleeson (LON: GLE) – In line H125 trading update
Published by Andy Murphy

In the Gleeson Homes division, MJ Gleeson completed 801 homes, 4% ahead of last year. Net reservations increased from 0.41 (0.39 ex bulk reservations) to 0.55 (0.44 ex bulk) and the company exits the period with a forward order book of 597 plots, up from 586 a year earlier. Demand has been good from private rental investors and housing associations, though the latter group have been held back pending the Government’s new funding settlement. Gleeson Land did not complete any sales in H1, but is progressing on a number of fronts, benefiting from strong demand. Period-end net debt was £18.1m, slightly improved from end-2023 with £18.7m.

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