Business
Final Results
Final Results.
About this update from Mj Gleeson Plc
[{"type":"text","content":"\n \n \n MJ GLEESON PLC \n 15 September 2022\n \n \n (\"Gleeson\" or \"the Group\" or \"the Company\") \n \n \n \n \n \n \n Audited results for the year ended 30 June 2022\n \n \n \n \n \n \n \n Gleeson, the high-quality affordable housebuilder and land promotion specialist, announces audited results which reflect strong underlying demand.\n \n \n \n \n \n \n \n \n ·\n \n Delivered record revenue and profit performances - PBT\n \n \n 1\n \n \n up 33.1%\n \n \n \n ·\n \n Achieved medium-term strategic objective of delivering 2,000 homes p.a.\n \n \n \n ·\n \n Affordability continuing to underpin strong ongoing demand and reservation levels\n \n \n \n ·\n \n Board expects further profitable growth in FY2023\n \n \n \n \n \n \n \n \n \n Gleeson Homes:\n \n \n \n ·\n 2,000 homes sold, a 10.4% increase (2021: 1,812)\n \n \n ·\n Average selling price up 14.7% to £167,300 (2021: £145,800) - underlying increase 11.8%\n \n \n ·\n Gross profit margin1 on homes sold increased to 29.0% (2021: 28.5%)\n \n \n ·\n Operating profit1 up 36.9% to £51.2m (2021: £37.4m)\n \n \n ·\n 23 new sites opened (2021: 27)\n \n \n ·\n Land pipeline up by 951 plots to 16,814 plots (2021: 15,863\n plots)\n \n \n \n \n \n \n Gleeson Land:\n \n \n \n ·\n Operating profit of £11.1m (2021: £11.1m)\n \n \n ·\n Six land sales completed during the year (2021: eight)\n \n \n ·\n Portfolio: 71 sites (2021: 71 sites) with the potential to deliver 20,241 plots (2021: 22,315 plots)\n \n \n \n \n \n \n Group:\n \n \n \n ·\n Revenue up 29.4% to £373.4m (2021: £288.6m)\n \n \n ·\n Profit before tax1 up 33.1% to £55.5m (2021: £41.7m)\n \n \n ·\n Exceptional building safety cost provision of £12.9m\n \n \n ·\n EPS1 up 34.2% to 78.1p (2021: 58.2p)\n \n \n ·\n Cash and cash equivalents £33.8m (2021: £34.3m)\n \n \n ·\n Proposed final dividend of 12p, making total dividend for the year of 18p (2021: 15p)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n Change\n \n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gleeson Homes\n \n \n \n \n \n \n £334.6m\n \n \n \n \n \n \n £265.8m\n \n \n \n \n \n \n 25.9%\n \n \n \n \n \n \n \n \n Gleeson Land\n \n \n \n \n \n \n £38.8m\n \n \n \n \n \n \n...