MJ Gleeson ups homes sales by a third in year to 30 June

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Housebuilder MJ Gleeson will report stronger results than expected when it announces results for the financial year to 30 June.

In a year end trading update, the group said its Gleeson Homes division had also increased its land pipeline of owned and conditionally purchased plots by 63%, totalling 7,496 plots, compared to the previous year with a further 460 plots to be acquired.

The firm said house sales were up by a third to 751 homes.

The firm said the division鈥檚 forward order book stood at 拢43.9m at 1 July 2015 and remains on track to reach its target of building 1,000 new homes a year. The 751 homes sold during the 2014/2015 financial year was a 34% increase on the previous year鈥檚 total of 561.

Gleeson Homes expects to be active on 50 sites over the course of the next year and is also opening a new office in Wakefield.

Gleeson Strategic Land disposed of five land plots totalling 62.2 acres to improve the profitability of the business unit for the year.

The business has a further two sites, totalling 7.5 acres conditionally sold and expects these to complete early into the new financial year.

The portfolio consists of 69 sites totalling 3,836 aces with the potential to deliver 21,200 plots.

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