Sparks

MJ Gleeson has delivered a resilient first-half performance despite a subdued market, with Gleeson Homes growing sales volumes and increasing its forward order book. The 10% rise in Gleeson Homes’ revenue to £156.6m reflects strong demand in the affordable housing sector, though operating profit fell due to margin pressures. Encouragingly, net reservation rates have improved significantly in the first four weeks of 2025, suggesting a stronger second half. Gleeson Land saw no completed sales in the period, affecting overall group profitability, but with several sites in the pipeline and planning permissions secured post-period end, momentum is expected to build. The company remains well-positioned for recovery, underpinned by its focus on affordable homes and a stabilising planning environment. While short-term challenges remain, the strategic expansion of sales outlets and improving market conditions suggest MJ Gleeson is laying the groundwork for sustained growth.