MJ Gleeson performs well during H1

Low-cost housebuilder MJ Gleeson said on Tuesday that it had "performed well" during the six months ended 31 December.

MJ Gleeson stated it had completed the sale of 932 homes, 14.9% more than during the same period in 2019, and just 2.0% fewer than the 951 homes sold during the same time a year earlier.

The London-listed group said demand for its low-cost homes remained "strong", with customers continuing to find the cost of owning a Gleeson home "significantly lower than the cost of renting".

MJ Gleeson, which reaffirmed its target of delivering 2,000 homes in the year to June 2022, added that its Gleeson Homes unit open eight new build sites during the half and anticipates opening a total of 25 sites during the full year.

"Given the continued strong demand for Gleeson Homes and the positive start made by Gleeson Land, the board expects the group's results for the full year to 30 June 2022 to be in line with market expectations," said MJ Gleeson.

As of 0825 GMT, MJ Gleeson shares were down 4.63% at 763.0p.