logo-loader

House-builders' shares subside after profit warning from MJ Gleeson

Published: 14:01 03 Jun 2025 BST

MJ Gleeson -

Shares in the housebuilding sector subsided on Tuesday morning after mid-cap builder MJ Gleeson (LSE:GLE) issued a profit warning.

The company said profit margins at its Gleeson Homes division had been hit by a combination of rising build costs, flat sale prices, increased use of buyer incentives and several bulk sales.

"The pace of the housing market recovery has not been sufficient to offset the cumulative impact on Gleeson Homes' gross margin of a number of headwinds through the year," it said, resulting in gross margins being around 1% lower than previously expected.

Gleeson shares tanked 21%, while on the FTSE 250, Vistry Group PLC (LSE:VTY) fell 4.1% and Crest Nicholson PLC (LSE:CRST) was down 2.3%.

On the FTSE 100 Barratt Redrow PLC (LSE:BTRW)Berkeley Group Holdings PLC (LSE:BKG)Persimmon PLC (LSE:PSN) and Taylor Wimpey PLC (LSE:TW.) all dropped more than 1%. 

Sprott CEO: U.S. nuclear policy shift and AI energy demand create...

Sprott Asset Management CEO John Ciampaglia spoke with Steve Darling from Proactive to discuss the transformative changes underway in the uranium market and the pivotal role of the Sprott Physical Uranium ETC, developed in partnership with HANetf. Ciampaglia described the current market...

13 hours, 47 minutes ago
OSZAR »