Update on Gleeson Land

MJ Gleeson PLC

09 June 2026

 

MJ Gleeson plc 

("MJ Gleeson" or the "Group") 

Update on Gleeson Land

As previously communicated, Gleeson Land has been extensively engaged in the sale of a site which would account for approximately 50% of the total forecast plots to be sold in FY2026. Whilst significant progress has been made in respect of this site, the transaction is unlikely to complete in the current financial year. 

The majority of conditions required to achieve formal technical approval have been agreed, and the Group expects to conclude the remaining conditions soon. Completion of the transaction is now anticipated during the first half of the new financial year.

The Board notes the recent commentary regarding the national housebuilders reviewing their land buying strategies given the current market environment. Delays in their decision making and acquisitions of land will likely impact the timings on two smaller transactions, originally expected to complete in FY2026, which are also now expected to conclude in the first half of FY2027. However, we continue to expect the sale of one further site in June 2026. Notwithstanding the timing differences on completions of the above sites, the Group is encouraged that demand remains solid for high quality sites.     

Trading in Gleeson Homes is in line with management's expectations for the full year. The impact of the Gleeson Land transactions being deferred into FY2027 is expected to result in Adjusted Group PBT for the year being approximately £7.5m lower than current market expectations¹.

The Group will issue its full year trading update on 10 July 2026.

Graham Prothero, CEO, commented:

"The Gleeson Land team have cleared almost all of the technical hurdles to facilitate the disposal of the major site and it is frustrating that completion will now fall into the next financial year.  The progress to date should not be underestimated and represents a strong performance by the team.

"There is no doubt that housebuilders, in the south of England, are reviewing and reappraising their land buying strategies and we anticipate these conditions will continue through the next financial year.  The good news is that there is continuing demand for the highest quality developments, which is where Gleeson Land is now focused with a portfolio of prime sites. Transactions will take longer but we are confident that sales of prime sites will continue."

¹ The company compiled consensus of Adjusted Group Profit Before Tax for the year ending 30 June 2026 is £17.8m with a range of £16.4m to £18.5m and can be found at: https://www.mjgleesonplc.com/investors/analyst-coverage/

Enquiries:

MJ Gleeson plc                                               [phone]

Graham Prothero, Chief Executive Officer

Stefan Allanson, Chief Financial Officer

Stoneway (Financial PR)                                [e-mail]

Mark Garraway                                                  [phone]

Kim Looringh-van Beeck                                     [phone]

Singer Capital Markets (Joint broker)           [phone]

Shaun Dobson

Charles Leigh-Pemberton

Peel Hunt (Joint broker)                                [phone]

Ed Allsopp

Asha Chotai

Tom Graham

The information contained within this announcement was previously deemed by the Company to constitute inside information as stipulated by Market Abuse Regulation (EU) No 596/2014 ("EU MAR") and the retained UK law version of EU MAR pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019 (SI 2019/310) ("UK MAR"). With the publication of this announcement via a Regulatory Information Service, this information is now considered to be in the public domain. For the purposes of UK MAR, the person responsible for arranging for the release of this information on behalf of MJ Gleeson plc is Stefan Allanson, Chief Financial Officer

LEI: 21380064K7N2W7FD6434

 

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