Gleeson Homes saw a 14.6% dip in revenue, with Gleeson land experiencing a 114% landslide. 

Gleeson Homes sold 769 homes in this period (H1 22/23: 894), which the company says reflects the conditions experienced across the market.

Graham Prothero, CEO at MJ Gleeson PLC, commented: “The results for the half year reflect a robust performance given conditions in the housing market during 2023.

“Gleeson Homes entered the second half of the year with a strong forward order book, and we are seeing encouraging signs of recovery in reservation rates.

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“In common with others within the sector, we experienced margin pressures arising from increased sales incentives, extended site durations and multi-unit sales.

“This has been exacerbated by additional costs on several older sites, which were brought to light by new management teams put in place following the organisational restructuring implemented last year.

“Against the backdrop of improving mortgage rates, we are seeing positive signs of a recovery in demand. 

“Gleeson Homes continues to negotiate selective multi-unit sales and expects to enter into further agreements over the coming months for delivery in both the current and next financial year.

“The business has traded well in difficult conditions and is well-placed to capitalise on a recovery in the market and resume its exciting growth strategy.”