MJ Gleeson revenue climbed to £410 million, but profit declined as build-cost inflation and land sale delays pressured margins, leading to a cautious fiscal outlook.
MJ Gleeson reported higher revenue but profit declined due to margin compression, delayed land sales, and exceptional charges, with a cautious outlook.
MJ Gleeson reported a 12.1% revenue increase to £410 million for the year ended June 2026, driven by higher home completions. However, adjusted pre-tax profit fell to £10.8 million due to margin compression in housebuilding, build-cost inflation, and significant delays in land transactions. The board declared a prudent 5 pence full-year dividend amid a cautious market outlook.
Profit was squeezed by build-cost inflation of 4.5% outpacing selling-price growth, margin compression in the housebuilding division, and significant delays in Gleeson Land transactions.