AGM Trading Update
MJ Gleeson plc reported an increase in open market net reservation rates for Gleeson Homes, rising by 22% to 0.50 per site per week (0.92 including bulk reservations) for the eight weeks to November 7, 2025, compared to the same period last year. Despite subdued buyer confidence and planning delays, the company has opened six new build sites in the financial year to date. Gleeson Land is progressing well, with two small sites sold and on track to submit 18 planning applications in the first half of the financial year. The Board anticipates that results for the financial year ending June 30, 2026, will be in line with current market expectations.
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MJ Gleeson plc, the low-cost housebuilder and land promoter, is issuing the following update ahead of its Annual General Meeting which is being held later today.
Gleeson Homes
Gleeson Homes' open market net reservation rates for the eight weeks to 7 November 2025, increased by 22% to 0.50 per site per week (0.92 including bulk reservations), from the 0.41 per site (0.46 including bulk reservations) during the same period last year.
Demand for new homes remains subdued, but steady, with buyers lacking confidence in the current economic environment.
Resource-constrained local planning continues to impede progress on opening new sites. Notwithstanding these challenges, since the start of the 2026 financial year, Gleeson Homes has opened six new build sites (Four months to 31 October 2024: six sites) and five new sites have commenced sales (Four months to 31 October 2024: seven sites). Gleeson Homes is currently selling on 59 sites (31 October 2024: 64 sites).
Gleeson Land
Gleeson Land is making good progress, having completed the sale of two small sites since the start of the financial year. As communicated at the time of the 2025 full year results, one site which represents approximately 50% of total plots budgeted to be sold during the year remains dependent on the finalisation of a technical solution.
The division is on track with its growth plans and making good progress towards its aim of submitting 18 planning applications in the first half of this financial year.
The Board, whilst mindful that the Government's Autumn Budget will be announced on 26 November 2025, expects that the results for the financial year ended 30 June 2026 will be in line with current market expectations1.
A trading update for the six months to 31 December 2025 will be issued on 16 January 2026 and the results for the period will be issued on 11 February 2026.
1 Analyst consensus for FY2026 can be found at: https://www.mjgleesonplc.com/investors/analyst-coverage/
For the purposes of UK MAR, the person responsible for arranging for the release of this information on behalf of MJ Gleeson plc is Stefan Allanson, Chief Financial Officer
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.