AGM Trading Update
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MJ Gleeson plc, the low-cost housebuilder and land promoter, is holding its Annual General Meeting later today at which James Thomson, Chairman, will make the following comments:
"Gleeson Homes has traded in line with the expectations set out in our September announcement.
Net reservation rates for the 9 weeks to 3 November 2023 increased to 0.47 per site per week (0.46 excluding bulk reservations), from 0.43 per site per week during the previous 9 weeks to 1 September 2023.
Mortgage rates have begun to stabilise and, against a more certain backdrop, we would expect buyer interest to pick up into the seasonally stronger Spring selling season.
Gleeson Land has completed the sale of one site since the start of the financial year.
The Board therefore currently expects that the results for FY2024 will be in line with market expectations.
We will provide a further update on 11 January 2024 following the conclusion of the half year."
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