Gleeson’s pre-tax profit down in “challenging year”

Gleeson had a “challenging year”, it said today (September 16), with pre-tax profit falling 17.3% against the previous year as it battled various “factors” including compliance issues, but while new homes sales increased.

The low-cost housebuilder and strategic land specialist’s pre-tax profit during the year ending June 30 2025 was £20.5 million against 2024. Meanwhile, revenue increased 5.9% to £365.8 million.

Gleeson Homes sold 1,793 homes against 2024’s 1,772. Reservation rates improved 37% to 0.71 per site per week. Excluding bulk sales, this was up 20% at 0.53.

The operating profit on homes fell to £22.3 million from 2024’s £30.3 million. Gross profit margin on the homes was 20.7% compared to last year’s 24.1%.

Gleeson said selling prices remained constrained, with incentives continuing at an elevated level which was restricting margin improvement.

During the reported year, Gleeson Homes’ average selling prices rose 4.3% to £193,600.

In Gleesons’ full year statement, ceo Graham Prothero said the company’s other challenges included legacy issues as well as those “around process and compliance with procedures”, fuelling build costs.

In July, the housebuilder announced that Gleeson Homes' ceo Mark Knight had left the business, with managerial changes made to tackle the delivery …