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MJ Gleeson PLC ( (GB:GLE) ) has provided an update.
MJ Gleeson reported a resilient first-half performance in a subdued housing market, with group revenue rising 9.6% to £173.1m, driven by higher volumes and prices at Gleeson Homes and a rebound in Gleeson Land sales. However, operating profit fell 17.6% to £4.2m and pre-exceptional profit before tax dropped 44.4% to £2.0m, as margins were squeezed by rising build costs, incentives, softer bulk sales pricing and regulatory and tax headwinds.
Gleeson Homes increased completions to 848 units, lifted average selling prices by 2.5% and expanded its forward order book by 64% to 978 plots, while finalising a significant operational restructure expected to incur up to £4.5m of exceptional costs in the second half. Gleeson Land completed three disposals, secured planning on five sites slated for sale in FY2026 and submitted applications on 15 sites, giving the group a record pipeline, but management stressed that delivering full-year expectations depends on a strong spring selling season as recovery in demand and investor confidence remains fragile.
The most recent analyst rating on (GB:GLE) stock is a Hold with a £419.00 price target. To see the full list of analyst forecasts on MJ Gleeson PLC stock, see the GB:GLE Stock Forecast page.
Spark’s Take on GB:GLE Stock
According to Spark, TipRanks’ AI Analyst, GB:GLE is a Outperform.
MJ Gleeson PLC’s overall stock score is driven by strong technical indicators and positive corporate events, indicating confidence in future performance. However, financial performance challenges, particularly in profitability and cash flow, moderate the score.
To see Spark’s full report on GB:GLE stock, click here.
More about MJ Gleeson PLC
MJ Gleeson plc operates through two divisions: Gleeson Homes, an affordable housebuilder focused on traditional brick-built homes across the Midlands and North of England, and Gleeson Land, a land promotion business active in southern, western and central England. Gleeson targets buyers for whom owning is typically cheaper than renting, with a strong social purpose and sustainability focus aligned to multiple UN Sustainable Development Goals.
Average Trading Volume: 61,753
Technical Sentiment Signal: Sell
Current Market Cap: £227.7M
For an in-depth examination of GLE stock, go to TipRanks’ Overview page.