MJ Gleeson H1 revenue up 9.6%

MJ GLEESON

11/02/2026 07:11

Corrects H1 pretax profit in Key Details table to GBP 1.7 mln from GBP 2 mln

Overview

UK affordable housebuilder's H1 revenue grew 9.6% yr/yr, driven by Gleeson Homes

Operating profit fell 17.6% due to higher overhead costs and lower sales phasing

Gleeson Land revenue surged 246% with three land sales, but operating loss persisted

Outlook

MJ Gleeson sees Spring selling season as crucial for meeting full-year expectations

Company to update guidance in April 2026 with more trading visibility

Bulk market softening, margins pressured by rising build costs and regulatory headwinds

Result Drivers

FORWARD ORDER BOOK - MJ Gleeson ended H1 with a strong forward order book, boosted by three new partnership agreements, indicating potential future sales growth

RESTRUCTURING IMPACT - Operational restructuring of Gleeson Homes aimed at improving efficiency, with expected cost savings in the second half

LAND SALES - Gleeson Land completed three land sale transactions, contributing to a 246% revenue increase, though operating loss persisted

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
GBP 173.10 mln
H1 Adjusted Pretax Profit
GBP 2.04 mln
H1 Basic EPS
GBP 0.02
H1 Dividend
GBP 0.04
H1 Pretax Profit
GBP 1.7 mln
H1 ROCE
7.60%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the homebuilding peer group is "buy"

Wall Street's median 12-month price target for MJ Gleeson PLC is GBp500.00, about 26.6% above its February 10 closing price of GBp395.00

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nRSK4963Sa

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 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)