Gleeson has released its half-year results for the six months to 31 December 2025, reporting a 53% drop in pre-tax profit.
For the period, the Group recorded a pre-tax profit of £1.7million, down from £3.6million for the same period the previous year.
The Group saw its revenue increase by 9.6%, up to £173.1million from £157.9million, with the housing arm of the business up 7.7% to £168.6million and Gleeson Land up 246% to £4.5million.
Gleeson Homes recorded 848 homes during the period, up from 801 year-on-year, while its net reservation rate increased to 0.75 per site per week compared to 0.55 last year.
Its forward order book also saw improved numbers, up 64% at 978 plots compared to 597 the previous year.
Gleeson Land recorded three land sale transactions in the first half of the year, and has also secured planning on five sites anticipated to sell during the financial year.
The Group has been undergoing a restructure of its housing arm, as part of its initiative named Project Transform, which is expected to cost an additional £4.5million in the second half of the financial year.
Gleeson reported £1.3million in restructuring costs in the last financial year, and said that it had started another round of restructuring in January, which involved the closure of an office, restructuring its Greater Manchester and Merseyside region and removing a number of roles.
Graham Prothero, chief executive officer of Gleeson, commented: “We are pleased to have delivered a robust performance in a subdued market environment and ended the first half with a strong forward order book boosted by three further partnership agreements and are cautiously encouraged by open market buyer activity over the last five weeks which has seen a recovery from the first half.”
“We have implemented further changes to complete the operational restructure of Gleeson Homes and to improve the efficiency of the overhead base.”
“Gleeson Land completed three sale transactions and had its busiest ever period of planning activity that will deliver high-value consented sites over the coming years. The outlook for the business is exciting and the division is well positioned to deliver on its growth potential.”
“For the full year, whilst current market expectations remain achievable, a strong spring selling season remains fundamental to our assumptions in delivering on those expectations and we need to see the recovery gain further momentum. The bulk market has softened further, as investors remain cautious and focused on pricing. Margins continue to be pressured as net selling price increases are outpaced by build costs, and we experience increasing regulatory and tax headwinds. We will update our guidance in April 2026 with the benefit of greater trading visibility through to the year end.”
“With the right structure and leadership in both businesses, the Group is in a strong position to deliver on its medium-term strategic objectives.”
