Finance
UK homebuilder MJ Gleeson sees strong forward sales after annual profit fall
Published by Global Banking and Finance Review
Posted on September 16, 2025
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on September 16, 2025
2 min readLast updated: January 21, 2026
MJ Gleeson reports strong forward sales despite a 17.3% drop in annual profit due to higher costs and market challenges.
(Reuters) - British homebuilder MJ Gleeson said on Tuesday it has entered its new fiscal year with a strong forward order book, despite a 17.3% drop in annual profit due to higher build costs and a slower recovery in the housing market.
MJ Gleeson, which builds affordable homes in the North of England and the Midlands, has been grappling with a subdued housing market, coupled with rising costs, flat selling prices, planning delays and a failed land deal.
The homebuilder logged 20.5 million pounds ($27.9 million) in pretax profit for the year ended June 2025, compared with 24.8 million pounds the year ago, but expects to report results for fiscal 2026 in line with its expectations.
"We believe the combination of a stronger performance from Gleeson Homes and continued progress at Gleeson Land position the Group well for a period of sustained growth," CEO Graham Prothero said.
MJ Gleeson's primary business, Gleeson Homes, had a forward order book of 845 plots as of June 2025, up from 597 plots reported at end of December 2024, it said.
The company's shares were up 1.8% at 347 pence in early trading.
"There are positives to take from these results and the tone of today's statement is very much that Gleeson is back on its front foot," RBC Capital Markets analysts said in a note.
($1 = 0.7338 pounds)
(Reporting by Prerna Bedi in Bengaluru; Editing by Eileen Soreng)
MJ Gleeson reported a pretax profit of 20.5 million pounds for the year ended June 2025, down from 24.8 million pounds the previous year.
As of June 2025, MJ Gleeson's forward order book consisted of 845 plots, an increase from 597 plots at the end of December 2024.
MJ Gleeson is dealing with a subdued housing market, rising build costs, flat selling prices, and planning delays.
Analysts from RBC Capital Markets noted that there are positives in MJ Gleeson's results and indicated that the company is back on its front foot.
CEO Graham Prothero expressed optimism, stating that the combination of a stronger performance from Gleeson Homes and progress at Gleeson Land positions the group well for sustained growth.
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