Glenveagh Properties PLC (GLV) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Transcription by CastingWords I will now hand you over to your host, Jack Gorman, head of IR, to begin today's conference. Please go ahead, Sam. Thank you, Adib, and good morning to everyone on the call. My name is Jack Gorman. I'm head of IR and corporate affairs here at Glenveig. I'd like to thank you all for taking the time to join us for our conference call and webcast, which relates to our interim 2024 results statements that we released earlier this morning. I'm joined on the call today by our CEO, Stephen Garvey, and our CFO, Michael Rice. In a moment, I'll hand you over to Stephen to begin the presentation, and following that, we'll open up the call to Q&A. I'd also like to draw your attention to the forward-looking statements included at the end of today's presentation. Thank you. And with that, I'll pass it over to Stephen. Thank you, Jack, and welcome everyone to Glenveig's H1 2024 results call. We will proceed like previous presentations by focusing on the summary slides that are at the front of the deck up to slide 10, allowing plenty of time for us to discuss them and then take any topics that you might have during the Q&A afterwards. Starting with slide four, let's reflect on the progress that we've made so far this year that I believe sets us up for strong delivery in full year 2024 and beyond. From an operational financial perspective, we've completed over 800 units in H1, approaching a third of our full year target of 2,700 units. We've benefited from an increased scale and greater integration of standardisation and off-site manufacturing to drive 190 bps of improvement in overall gross margin, largely driven from our suburban portfolio. And we've successfully signed a third partnership agreement on our site adjacent to Balmaston, as well as advanci...