Posh pays for builder Gleeson

By THIS IS MONEY
Updated:

 

BUILDER MJ Gleeson said the average price of its new homes in the South East is more than £250,000, an increase of more than 40% in a year. Chairman Dermot Gleeson said prices shot up because of a decision to build fewer but posher properties.

Meanwhile, the construction services order book stands at nearly £1bn, 80% up on last year's record. Pre-tax profit in the year to 30 June rose 17.5% to £18.9m on turnover up 20.8% at £422.5m.

Sales of homes were down 21% at 571 but that was more than offset by the higher prices. Earnings per share rose 17.2% to 134.4p. The final dividend is up 3.65p at 25p for a 31p total, up 17%

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