In its audited results for the year ended 30 June 2017, the company reported turnover rising 13% to £160.4 million (2016; £142.1m) while pre-tax profit rose 17% from £28.2m to £33m.
Operational highlights include 1,013 units sold throughout the year, compared with 904 units in 2016. While its average unit selling price dropped to £122,700 (2016; £125,700), due to completion of the final legacy site and mix, the company has a land pipeline (including conditionally purchased sites) of 11,588 plots (2016; 9,284 plots).
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Dermot Gleeson, Chairman of parent company MJ Gleeson, said: "Our twin track strategy - the development of low cost homes for open market sale in the North of England and strategic land sales in the South - delivered another excellent year of increased volumes, margins, profit and cash.
"Gleeson Homes achieved its milestone target of 1,000 unit sales per annum and has set a new milestone target of 2,000 unit sales per annum within the next 5 years. Affordability remains very attractive and demand exceeds supply, with buyers queueing on site opening days. The division opened another area office in Nottinghamshire, bringing the total number of area offices to seven plus two pilot offices, and has a pipeline of owned and conditionally purchased sites containing 11,588 plots, equivalent to more than 11 years of sales at current build rates."
(LM/MH)
