Highlights

  • MJ Gleeson released its H1 FY26 trading update on 16 January 2026, ahead of interim results on 11 February 2026.
  • Gleeson Homes sold 848 homes in H1 FY26, around 6% higher year-on-year.
  • Group net debt increased to GBP 22.5 million on 31 December 2025.

MJ Gleeson plc (LSE:GLE) issued a trading update for the half-year ended 31 December 2025. The Group confirmed that its full-year results are expected to be in line with current market expectations. Interim results for the period will be released on 11 February 2026.

Gleeson Homes: Sales and Reservation Trends

During the period, demand for new homes remained subdued but stable, influenced by economic uncertainty and commentary surrounding the Autumn Budget. Gleeson Homes reported the sale of 848 homes in H1 FY26, compared with 801 homes in the same period last year.

Net reservation rates increased to 0.75 per site per week, compared with 0.55 per site per week in H1 FY2025. Excluding bulk reservations, rates rose to 0.48 from 0.44 in the prior year period. The division entered the second half with a forward order book of 978 plots, up from 597 plots on 31 December 2024, with approximately 650 sales expected before the end of the financial year.

Operational Restructuring and Site Activity

The Group continued implementing changes under Project Transform, with further adjustments made to complete its operational restructure. Associated costs will be recognised as exceptional during the year.

Planning constraints continued to affect the pace of new site openings. Since the start of FY2026, Gleeson Homes opened 9 new build sites, compared with 8 in H1 FY2025. Seven new sites commenced sales, down from 11 in the prior year period. On 31 December 2025, the division was selling on 53 sites, compared with 65 sites a year earlier.

Gleeson Partnerships and Land Division Update

Gleeson Partnerships delivered its first homes during the period and continued to see interest from private rental investors and housing associations, although funding availability remains a factor for some customers.

Gleeson Land completed the sale of 3 sites in the period, with a further 5 sites in active sale processes. The division submitted 15 planning applications during H1 FY26, compared with 2 in the prior year period, and secured 2 planning consents. Planning permission is in place for all sites anticipated to be sold during the current year.

Balance Sheet Position

The Group reported net debt of GBP 22.5 million for FY 2025, compared with GBP 18.1 million in FY 2024.