Business
Results for the half-year ended 31 December 2022
Results for the half-year ended 31 December 2022.
About this update from Mj Gleeson Plc
[{"type":"text","content":"\n \n \n \n \n \n 16 February 2023\n \n \n \n MJ GLEESON PLC\n \n \n \n \n \n \n \n \n Results for the half-year ended 31 December 2022\n \n \n \n \n \n \n \n \n \n \n \n \n ·\n Net reservations starting to recover | Demand for consented land remains strong\n \n \n \n \n \n ·\n Expect to deliver between 1,650 and 1,850 homes in FY2023, subject to pace of recovery\n \n \n \n \n \n ·\n Organisational restructuring under way to reinforce strong platform for sustainable growth\n \n \n \n \n \n \n \n \n \n \n Graham Prothero, Chief Executive Officer, commented:\n \n \n \n \n \n \n \n \n \"I am delighted to have taken up my role as CEO and, as I continue to embed myself in the business, am hugely impressed with our talented and committed colleagues, our excellent product, exciting land pipeline and, above all, our team's enthusiasm for our ethos of \"Building Homes. Changing Lives.\" We have an exciting opportunity to take Gleeson to the next level by delivering sustainable growth over the medium-term, across both our Homes and Land divisions.\n \n \n \n \n \n \n \n \n \n At the same time as managing through the lower levels of current market demand, I want to ensure that the Group is in the best possible shape to take advantage of the recovery which we are beginning to see early signs of. Building on the strong platform I have inherited, my focus is on optimising our organisational structure and making us more operationally efficient and fit for further growth. This will also result in significant annualised savings of circa £4 million.\n \n \n \n \n \n \n \n \n \n In terms of guidance: confidence, underpinned by improved mortgage rates, is slowly returning to the market, evidenced by improving net reservations. With full-year volumes dependent on the pace of recovery, we now expect to deliver between 1,650 and 1,850 homes.\"\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 \n H1 22/23\n \n \n \n \n \n \n \n \n \n \n \n \n \n H1 21/22\n \n \n \n \n \n \n Change\n \n \n \n \n \n \n \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 \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gleeson Homes \n \n \n \n \n \n £166.7m\n \n ...