Low-cost housebuilder MJ Gleeson sold a record number of homes during the past year, its chief executive telling shareholders that profit should match pre-pandemic levels.
In a trading update for the year ending 30 June, the company said its Gleeson Homes division sold 1,812 homes during the 12 months, up by 69% year-on-year and almost a fifth ahead of 1,529 homes sold in 2019.
Those homes achieved an average selling price of £145,800, up by 11.4% on a year earlier.
The division’s order book stands at £134.1m on 841 plots. It opened 27 new build sites over the course of the past year, also a record. The board aims to deliver 2,000 homes over the next 12 months.
In the group’s Gleeson Strategic Land, eight sites were sold during the year with scope for 1,978 plots for housing development. It now has six sites with planning permission granted or with a resolution to grant, which together could deliver 2,210 plots. Three of thee sites are now in the process of being sold.
Chief executive James Thomson said: “Pretax profit is expected to be in line with that achieved in 2019, our last financial year before the impact of the pandemic… With a strong pipeline of sites in both our Gleeson Homes and Gleeson Strategic Land divisions, we begin the new financial year confident of delivering further sustainable growth for all our stakeholders.”
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