Gleeson posts rise but sees margins under pressure
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.MJ GLEESON, the Surrey-based construction and housebuilding company, warned that rising material costs and limited house price rises would put increasing pressure on its margins.
The company added that over- capacity in the South-east would continue to depress tender prices in the contracting division despite a small rise in demand.
Despite the difficult trading conditions, Gleeson reported profits of pounds 8.9m in the year to June, an increase of pounds 706,000 over 1993.
Earnings per share increased from 57.5p to 58.2p and there was a 15 per cent increase in the final dividend to 10.8p, giving a full- year payout of 14.2p.
During the year positive cash flow resulted in year-end cash balances of pounds 18.3m. Since the year- end, pounds 11.9m of that had been spent on the purchase of Portman Homes, the residential development of Portman Building Society, which added 413 plots to Gleeson's land bank.
The shares stuck at 840p.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments