REG - MJ Gleeson Plc - Update on Gleeson Land

MJ GLEESONAnnouncement

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RNS Number : 4757H  MJ Gleeson PLC  09 June 2026

 

MJ Gleeson plc

("MJ Gleeson" or the "Group")

 

Update on Gleeson Land

As previously communicated, Gleeson Land has been extensively engaged in the
sale of a site which would account for approximately 50% of the total forecast
plots to be sold in FY2026. Whilst significant progress has been made in
respect of this site, the transaction is unlikely to complete in the current
financial year.

 

The majority of conditions required to achieve formal technical approval have
been agreed, and the Group expects to conclude the remaining conditions soon.
Completion of the transaction is now anticipated during the first half of the
new financial year.

 

The Board notes the recent commentary regarding the national housebuilders
reviewing their land buying strategies given the current market environment.
Delays in their decision making and acquisitions of land will likely impact
the timings on two smaller transactions, originally expected to complete in
FY2026, which are also now expected to conclude in the first half of FY2027.
However, we continue to expect the sale of one further site in June 2026.
Notwithstanding the timing differences on completions of the above sites, the
Group is encouraged that demand remains solid for high quality sites.

 

Trading in Gleeson Homes is in line with management's expectations for the
full year. The impact of the Gleeson Land transactions being deferred into
FY2027 is expected to result in Adjusted Group PBT for the year being
approximately £7.5m lower than current market expectations(1).

 

The Group will issue its full year trading update on 10 July 2026.

 

Graham Prothero, CEO, commented:

 

"The Gleeson Land team have cleared almost all of the technical hurdles to
facilitate the disposal of the major site and it is frustrating that
completion will now fall into the next financial year.  The progress to date
should not be underestimated and represents a strong performance by the team.

 

"There is no doubt that housebuilders, in the south of England, are reviewing
and reappraising their land buying strategies and we anticipate these
conditions will continue through the next financial year.  The good news is
that there is continuing demand for the highest quality developments, which is
where Gleeson Land is now focused with a portfolio of prime sites.
Transactions will take longer but we are confident that sales of prime sites
will continue."

 

 

(1) The company compiled consensus of Adjusted Group Profit Before Tax for
the year ending 30 June 2026 is £17.8m with a range of £16.4m to £18.5m and
can be found at: https://www.mjgleesonplc.com/investors/analyst-coverage/
(https://www.mjgleesonplc.com/investors/analyst-coverage/)

 

 

Enquiries:

 

MJ Gleeson
plc
+44 1142 612 900

Graham Prothero, Chief Executive Officer

Stefan Allanson, Chief Financial Officer

 

Stoneway (Financial PR)
                        mjgleeson@stoneway.co
(mailto:mjgleeson@stoneway.co)

Mark
Garraway
+44 7771 860938

Kim Looringh-van
Beeck
+44 20 3422 0208

 

Singer Capital Markets (Joint broker)           +44 20 7496 3000

Shaun Dobson

Charles Leigh-Pemberton

 

Peel Hunt (Joint
broker)                                +44 20
7418 8900

Ed Allsopp

Asha Chotai

Tom Graham

 

 

 

The information contained within this announcement was previously deemed by
the Company to constitute inside information as stipulated by Market Abuse
Regulation (EU) No 596/2014 ("EU MAR") and the retained UK law version of EU
MAR pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019 (SI
2019/310) ("UK MAR"). With the publication of this announcement via a
Regulatory Information Service, this information is now considered to be in
the public domain. 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

LEI: 21380064K7N2W7FD6434

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