Housebuilder MJ Gleeson has seen revenue and profits climb, as demand for affordable homes and consented land grows.
MJ Gleeson reported pretax profit up 52.6% to £20.3m in the six months to 31 December, compared to a year earlier.
The business saw revenue rise by 35.8% to £142.6m, with new homes revenue up 28% and a further bump from new strategic land sales.
It sold 951 homes during the period, up 17.5%, with the average selling price up 9.1% to £140,600.
MJ Gleeson completed four land sales in the six months, with a further four currently in sales. It noted the increasing demand for consented sites compared to no transactions the previous year.
Chief executive James Thomas said: “Gleeson Strategic Land is experiencing strong demand for consented land from both medium and large-sized housebuilders and has a healthy pipeline of sites, four of which are in a sale process and expected to complete in the second half of the financial year.
“The group is well-placed for the future. In the absence of any unforeseen circumstances, the board is confident that results for the full year to 30 June 2021 will be significantly ahead of current market consensus.”
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