Finance
UK's MJ Gleeson flags profit dip for low-cost housebuilding unit
Published by Global Banking & Finance Review®
Posted on June 3, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 3, 2025
1 min readLast updated: January 23, 2026
MJ Gleeson anticipates a 15%-20% profit decline in its affordable housing unit due to rising costs and market challenges.
(Reuters) -Britain's MJ Gleeson said on Tuesday its low-cost housebuilding unit Gleeson Homes will report annual operating profit about 15%-20% below expectations, citing higher build costs, flat selling prices and a failed land disposal deal.
MJ Gleeson - which specialises in affordable housing - operates two divisions, Gleeson Homes and Gleeson Land. The former accounted for 95% of the company's total revenue in 2024.
"The pace of the housing market recovery has not been sufficient to offset the cumulative impact on Gleeson Homes' gross margin of a number of headwinds through the year," the company said in a statement.
It added that factors including planning delays, which will result in the business selling from fewer sites than previously forecast, will continue to impact the unit's margins into fiscal year 2026.
(Reporting by Yamini Kalia in Bengaluru; Editing by Sonia Cheema)
MJ Gleeson expects its low-cost housebuilding unit Gleeson Homes to report an annual operating profit about 15%-20% below expectations.
The company cited higher build costs and flat selling prices as significant factors impacting Gleeson Homes' gross margin.
The pace of the housing market recovery has not been sufficient to offset the cumulative impact of various headwinds on Gleeson Homes' margins.
Gleeson Homes anticipates ongoing challenges, including planning delays that will result in selling from fewer sites than previously forecast.
Gleeson Homes accounted for 95% of MJ Gleeson's total revenue in 2024.
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