MJ Gleeson (GLE)

Sector:

Construction and Building Materials

Index:

FTSE Small Cap

530.00p
   
  • Change Today:
      2.00p
  • 52 Week High: 654.00p
  • 52 Week Low: 438.00p
  • Currency: UK Pounds
  • Shares Issued: 58.43m
  • Volume: 68,439
  • Market Cap: £309.67m
  • RiskGrade: 213
  • Beta: 0.05

MJ Gleeson sees FY in line despite 'lack of conviction' in market

By Michele Maatouk

Date: Friday 15 Nov 2024

LONDON (ShareCast) - (Sharecast News) - Housebuilder MJ Gleeson said on Friday that it remains on track for full-year results in line with market expectations despite a "lack of conviction" in the market, which continued through the Autumn.
In an update ahead of its annual general meeting, the company said the interest rate cut announced by the Bank of England last week was "welcome" and is expected to boost buyer confidence into the important Spring selling season.

For the period form 1 July to 1 November, net reservation rates increased to 0.56 per site per week from 0.45 per site in the same period a year earlier.

It said Gleeson Homes continues to experience margin pressure as a result of the use of higher sales incentives, the impact of multi-unit sales, increased build costs and limited relief from increasing selling prices.

The division has begun its programme of new site openings, having already opened seven new sales sites this financial year. It expects to open a total of 27 sales sites during the year but will be selling overall on a lower average number of sites than last year, with fewer sites in the first half than in the second.

The company said Gleeson Homes will continue "the positive momentum" of site openings from FY2026 targeting a net 10 new sales sites per year.

"As the wider market improves, we remain confident in Gleeson Homes' ability to fulfil this ambitious programme of site openings which will drive the exciting sector-leading growth planned for FY2026 and beyond," it said.

The housebuilder said Gleeson Land "continues to promote several exciting opportunities".

The prospective reform of the National Planning Policy Framework is expected to beneficially impact the timing of certain sites, it said.

"Strong demand for consented land from large and medium-sized developers continues to give the board confidence that Gleeson Land will deliver a full year result materially ahead of last year, with a number of significant sales expected to be completed in H2."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MJ Gleeson Market Data

Currency UK Pounds
Share Price 530.00p
Change Today 2.00p
% Change 0.38 %
52 Week High 654.00p
52 Week Low 438.00p
Volume 68,439
Shares Issued 58.43m
Market Cap £309.67m
Beta 0.05
RiskGrade 213

MJ Gleeson Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
31.73% below the market average31.73% below the market average31.73% below the market average31.73% below the market average31.73% below the market average
36.84% below the sector average36.84% below the sector average36.84% below the sector average36.84% below the sector average36.84% below the sector average
Price Trend
38.18% above the market average38.18% above the market average38.18% above the market average38.18% above the market average38.18% above the market average
28.21% below the sector average28.21% below the sector average28.21% below the sector average28.21% below the sector average28.21% below the sector average
Income
59.07% below the market average59.07% below the market average59.07% below the market average59.07% below the market average59.07% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average
Growth
87.82% below the market average87.82% below the market average87.82% below the market average87.82% below the market average87.82% below the market average
72.97% below the sector average72.97% below the sector average72.97% below the sector average72.97% below the sector average72.97% below the sector average

What The Brokers Say

Strong Buy 4
Buy 3
Neutral 0
Sell 1
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MJ Gleeson Dividends

  Latest Previous
  Interim Final
Ex-Div 06-Mar-25 24-Oct-24
Paid 04-Apr-25 22-Nov-24
Amount 4.00p 7.00p

Trades for 28-May-2025

Time Volume / Share Price
16:08 20,517 @ 521.00p
16:35 151 @ 530.00p
16:35 3,164 @ 530.00p
16:35 3,164 @ 530.00p
16:35 820 @ 530.00p

MJ Gleeson Key Personnel

CFO Stefan Allanson
CEO Graham Prothero

Top of Page