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PRIVACY
Enterprise

Housebuilder MJ Gleeson hints at strong year after increased sales

The company sold four development sites and is on track to sell another four

Gleeson Homes development - Caledonian Court in Newcastle

Sheffield housebuilder MJ Gleeson has reported a strong start to the year after boosting its half your sales by more than 17%.

MJ Gleeson, which specialises in low-cost homes, sold 951 homes during the six months ending December 31, up from 811 during the same period in 2019.

In an investor update, the company also added that its Gleeson Homes division is on track to hit its full-year unit completion target. In total the business is aiming to deliver 2,000 units per year by June 2022.

In a statement the company said: "We continue to see strong demand for our low-cost homes. The division opened 17 new sites during the first half-year and expects to open at least another 10 sites during the second half. By the end of the financial year the division expects to be actively building on approximately 80 sites and actively selling on at least 65 sites.

"All sites are Covid-secure, remain open for construction and sales, and are operating in line with the most recent government lockdown requirements."

During the six-month period, MJ Gleeson sold four sites, with the company adding that demand for high quality consented land had meant it was also in the process of selling a further four.

The company also said that strong demand meant that its group results for the full year ending June 20 will be at least in line with expectations.

MJ Gleeson will report results for the half-year ended December 31 on February 11.