Gleeson doubles profit, plans dividend payment
Housebuilder and land dealer MJ Gleeson said annual pre-tax profit more than doubled as it underlined its confidence in future trading by saying it hopes to resume dividend payments in 2013.
Housebuilder and land dealer MJ Gleeson said annual pre-tax profit more than doubled as it underlined its confidence in future trading by saying it hopes to resume dividend payments in 2013.
Pre-tax profit rose to £3.6m for the year to June 30th from £1.6m during the same period a year earlier. Operating profit increased to £3.3m during the period from £0.9m before. Revenue climbed to £41.9m from £41.4m.
The group said that unless there is a further severe downturn in the UK, the group will continue to grow profits in the current year and beyond.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Gleeson Homes returned to profitability, posting an operating profit of £0.3m compared to a loss of £0.4m earlier.
Chairman Dermot Gleeson said: "The group enjoys a very strong and competitive presence in the two sectors of the market on which it now concentrates: low cost housing development on brown field sites in the North of England; and the promotion through the planning system and subsequent sale of high value green field sites in the South."
"The prospect of rising revenue from house sales combined with a planned reduction in the rate of growth of the land bank means that the group expects to become cash generative in the second half of the current financial year and, broadly, to remain so for the foreseeable future."
Underlining its confidence in future trading, Gleeson said it hopes to be able to restart regular dividend payments in 2013.
CJ
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Michelin Key Hotels 2025: the top destinations in the world
The Michelin Keys have been awarded to spectacular hotels across the world. From Marlon Brando's private resort in Polynesia to a Bvlgari hotel in Tokyo, we look at some of the most extraordinary stays in 2025
-
MoneyWeek news quiz: How much could you get in car finance compensation?
The car finance scandal, inheritance tax, and house prices all made headlines over the past few days. Test your knowledge while reviewing this week’s top stories with MoneyWeek’s news quiz