By Anthony O. Goriainoff

MJ Gleeson said it expects its fiscal 2026 results to meet market views after home sales rose in its first half and as buyer confidence improves.

The house builder and land promoter on Friday said demand for new homes in the six months through Dec. 31 was subdued but steady as weak buyer confidence in the economic environment was further hit by concerns ahead of the U.K. government's autumn budget announcement.

MJ Gleeson said it expects an improvement in open-market sales through the spring selling season as budget concerns fade and following the Bank of England's cut to interest rates in December.

For the half year ended Dec. 31 it expects to report that home sales rose around 6% on year to 848 units.

Its net reservation rate--a key industry metric--rose to 0.75 per outlet per week from 0.55 in the year-prior period. Excluding bulk reservations, the rate rose to 0.48 from 0.44.

The company said its forward order book as at Dec. 31 stood at 978 plots, nearly double the 597 plots reported a year earlier, and that it was on track to finish around 650 of these home sales before the end of its fiscal year.

Company-compiled consensus for fiscal 2026 has adjusted pretax profit at 24.3 million pounds ($32.5 million) and sales of 1,958 units.

Shares in early trade were down 0.3% to 384 pence.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

January 16, 2026 03:14 ET (08:14 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.