Earnings release
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MJ Gleeson plc ("MJ Gleeson" or the "Group") Trading Update & Notice of Interim Results MJ Gleeson plc issues a trading update for the half-year ended 31 December 2025 (the "Period"). The Company will report its results for thePeriod on 11 February 2026. The Board expects the Group's results for the full year will be in line with current market expectations1. Gleeson Homes Demand for new homes remained subdued but steady through the Period with buyers' lack of confidence in the current economicenvironment compounded further by commentary during the run-up to the late Autumn Budget. With Budget concerns fading andfollowing the interest rate cut in December, we expect to see an improvement in open market sales through the Spring sellingseason. On that basis, we remain confident in our forecast for FY2026. We are focused on rebuilding our margin performance and are targeting higher selling prices alongside an increase in volumes tomitigate the use of incentives, build cost inflation and an increasing regulatory burden. Gleeson Homes delivered a robust performance in the Period and will report the sale of 848 homes, circa 6% more than the sameperiod last year (H1 FY2025: 801 homes). Net reservation rates during the Period increased to 0.75 per site per week (0.48 excluding bulk reservations) from 0.55 per site perweek (0.44 excluding bulk reservations) during the same period last year. Gleeson Homes enters the second half of the currentfinancial year with a forward order book of 978 plots (31 December 2024: 597 plots) of which circa 650 sales are expected beforethe financial year end. We are pleased with the performance improvements delivered to date under Project Transform and have implemented furtherchanges to complete the operational restructure and ensure our overhead is as lean as possible. The related costs will be recognisedas exceptional during the year. Resource-constrained local planning continues to impede progress on opening new sites. Since the start of FY2026 Gleeson Homeshas opened 9 new build sites (H1 FY2025: 8 sites) and 7 new sites have commenced sales (H1 FY2025: 11 sites). Gleeson Homes iscurrently selling on 53 sites (31 December 2024: 65 sites). Gleeson Partnerships delivered its first homes during the Period and continues to see strong interest from both private rentalinvestors and housing associations, though most of the latter still await receipt of monies under the Government's new fundingsettlement. Gleeson Land Gleeson Land completed the sale of 3 sites in the Period and a further 5 sites are in an active sale process. Demand for primeconsented sites continues to be strong. As communicated at the time of the FY2025 results, the timing of one sale, which representsapproximately 50% of total plots forecast to be sold during the year, is dependent on the final technical agreement of the highwaysdesign. Our recent success in securing new sites for promotion has been followed by intense activity in planning, and the division submitted15 applications during the first half of this financial year (H1 FY2025: 2 submissions). We achieved two planning consents in thePeriod, and have planning permission for all sites anticipated to be sold in the current year. The Group ended the Period with net debt of £22.5 million (31 December 2024: £18.1 million net debt). Graham Prothero, CEO of MJ Gleeson, commented: "We are pleased to have delivered a solid performance in a subdued market. We now expect to see an improvement in new home salesthrough the Spring selling season on the back of last month's rate cut, and as uncertainty in the run-up to the Budget continues to subside. "Meanwhile, we are working hard on operational efficiency and effectiveness to ensure Gleeson Homes is in the best shape possible tocapitalise on the significant growth opportunities we see ahead. "Along with increasing momentum at Gleeson Land, we are confident that the Group is in a strong position to deliver on its strategicobjectives." 1 Analyst consensus for FY2026 can be found at: https://www.mjgleesonplc.com/investors/analyst-coverage/ Enquiries: MJ Gleeson plc +44 1142 612 900 Graham Prothero, Chief Executive Officer Stefan Allanson, Chief Financial Officer Invicomm (Financial PR) mjgleeson@invicomm.com
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Mark Garraway +44 7771 860938 Kim Looringh-van Beeck +44 20 3422 0208 Singer Capital Markets (Joint broker) 44 20 7496 3000 Shaun DobsonCharles Leigh-Pemberton Peel Hunt (Joint broker) +44 20 7418 8900 Ed Allsopp Tom Graham For the purposes of UK MAR, the person responsible for arranging for the release of this information on behalf of MJ Gleeson plc is Stefan Allanson, Chief Financial Officer LEI: 21380064K7N2W7FD6434