Company
LON:GLE
MJ Gleeson plc specialises in urban housing regeneration and strategic land trading. Within these activities, we employ people with outstanding skills which we are determined to improve continuously and to deploy ever more widely and effectively for the benefit of our customers, our shareholders and society at large.
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"Gleeson Strategic Land had a record year and continues to benefit from high levels of demand for consented land in prime locations from both large and medium-sized housebuilders."
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Aside from the UK data and the retail updates, the Week Ahead will also bring news from the likes of Diageo, Dairy Crest, Smiths Group, Lamprell, and SIG
Berenberg has initiated coverage on 11 house-builders and not one of them is a 'sell' in its book
Builders and building materials
The house-builders continue to make money hand over fist in an environment that seems to have been cultivated to maximise their profitability but profitability may have peaked
Dermot Gleeson, the firm’s chairman commented: “Land remains available to us at sensible prices and demand for our homes amongst our customer base remains strong.”
Investments and investor services
The FTSE 100 extended the morning's losses toe end the day 47 points lower at 7,247
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Week ahead includes a deluge of blue chip results, notably from the banking sector, including numbers from HSBC PLC, Barclays PLC, Lloyds Banking Group PLC, and Royal Bank of Scotland PLC
The urban regeneration and strategic land specialist said its Gleeson Homes business completed the sale of 593 units, up 31% on the previous half-year's total of 451 unit completions
“Our twin track strategy - the development of low cost homes for open market sale in the North of England and strategic land sales in the South - delivered another excellent year of increased volumes, margins, profit and cash"
FTSE 100 closed 9.35 lower at 7,301 and the FTSE 250 added over 49 points at 19,566
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Week ahead includes trading updates from tour operators TUI AG and Thomas Cook Group PLC, and numbers from Pennon Group PLC and United Utilities PLC
Investors and private buyers are driving up demand in places like Leeds and Manchester as they start to venture outside of London
Profits this year will be above the top end of forecasts, the affordable housebuilder said.
The UK blue chip index is fell 9 points to 7,340.30 in late afternoon trading
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Day ahead: trading updates due from Serco PLC, Trinity Mirror PLC ...
In a note to clients, Berenberg’s analysts said: “We believe Gleeson has a cost leadership and market position that allows it to sustain profits at the high end of the sector and gives a clear path for continued growth."
The analysts said they have raised earnings per share forecasts for the housebuilders by around 10% for 2017 and 15% for 2018 as its house price inflation forecasts rise to +3% in 2017 and +1% in 2018, reflecting improved UK economic foreca
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Having seen the big drugs, oils, and banking sectors dominate over the past few weeks, investors will have less FTSE 100 results to digest in the coming week.
Urban regeneration group sold 904 homes during the year to June 30, up 20.4% against last year’s 751
