UK housebuilder MJ Gleeson has warned that the timing of a recovery in the housing market remains uncertain, citing ongoing geopolitical tensions and policy-related risks, even as it
reported improved home sales and said annual profit should meet market expectations.
"We cannot predict when the housing market will recover," chief executive Graham Prothero said. He added that the company remained well positioned to benefit when market conditions improve.
The company said adjusted pre-tax profit for the year ended 30 June is expected to be in line with market expectations, supported by a stronger performance from its housebuilding division.
The update follows a profit warning issued in June, when MJ Gleeson said earnings would fall short of expectations after a weak property market delayed the completion of a significant land sale.
Gleeson Homes, which generates more than 95% of the group's revenue, completed 1,968 home sales during the financial year, a 9.8% increase compared with the previous year.
Looking ahead, analysts expect adjusted pre-tax profit for the 2027 financial year to average £19.3m, according to a company-compiled consensus, with forecasts ranging from £17m to £21.3m.
For the 2026 financial year, the consensus forecast for adjusted pre-tax profit stands at £10.1m, reflecting expectations of improved earnings as the company seeks to navigate a challenging housing market.
