UK's MJ Gleeson falls as delayed land sales weigh on annual profit outlook
Tue 08:17
BUZZ-UK's MJ Gleeson falls as delayed land sales weigh on annual profit outlook ** Shares of MJ Gleeson GLEG.L down 3.7% at 234.5p
** The homebuilder warns adj group PBT for FY2026 to be about 7.5 million pounds ($10.02 million), below market expectations of 17.8 million pounds after key Gleeson Land transactions slip into FY2027
** Major land site sale, accounting for about 50% of forecast FY2026 plots, now expected to complete in H1 FY2027; two smaller deals also delayed
** In 2026, stock has fallen about 44.2%
($1 = 0.7483 pounds)
(Reporting by Judes Joseph in Bengaluru)