MJ Gleeson maintains FY guidance

Urban regeneration and strategic land specialist MJ Gleeson expects first half profits to comfortably exceed last time and has maintained its full-year guidance.

The group said Gleeson Homes completed the sale of 593 units, an increase of 31% on the previous half-year's total of 451 unit completions.

Gleeson Strategic Land sold three sites, the same number as the previous half-year.

It said: 'These were smaller sites and as indicated in the AGM statement issued on 7 Dec 2017 this will lead to the division's first half-year results being lower than those of the prior year comparable period and second-half results being higher than those of the prior year comparable period.'

The group said results for the first half were expected to comfortably exceed those of the prior year comparable period.

The board has maintained its guidance that the results for the full year to 30 Jun will be in line with its expectations.

The group will report its interim results on 19 Feb.