Gleeson enjoys strong demand

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Sheffield-based house builder M J Gleeson Group made “excellent” progress in the year and enjoys strong demand in all of its regions.

Chairman Dermot Gleeson told its annual general meeting in London that the recent change to stamp duty would provide a further boost.

The company is an urban regeneration and strategic land specialist.

Mr Gleeson said: “The Group made excellent progress in the year, as has been recognised by its recent inclusion in Management Today’s ‘Britain’s Most Admired Companies 2014’.

“Market conditions for Gleeson Homes remain healthy, with strong customer demand in all of our regions. The recent change to stamp duty provides further assistance to many of our customers by reducing the cost of their home purchase. The current forward order book totals 340 units, against 291 units in 2013 and the board expects to record an increase in completions in the year to 30 June 2015 of not less than 25 per cent against the prior year total of 561 units.

“The increase in activity in the housing sector as a whole has inevitably had an inflationary effect on construction costs. However, Gleeson Homes’ close relationships with its main suppliers and subcontractors, which have been strengthened by its continuing commitment to volume growth, has enabled it to contain any rises in labour and materials prices within acceptable limits.

“Gleeson Strategic Land continues to benefit from strong demand from volume house builders for greenfield residential land in the South of England.

“Barring a sudden and marked downturn in the wider economy, it has considerable potential.”