MJGleeson Share Price (GLE)

Still no sign of a catalyst here.

Perhaps not use negative margin bulk sales just before year end to increase turnover. In the past this may have cost shareholders £500k in a single person bonus and approx another £500k in discounts to meet the terms of the bonus!

Feel like we could really do with a HTB scheme. Labour need to pull some rabbits out the hat to save their skin!!

This is all peanuts with the shares at under 50% of tangible assets! Imo the big attractive is fire remediation works are very low compared to Barratts and TW.

Is a juicy little snippet for someone to buy on the cheap..

1. Pretend that sales are good when direct sales are 0.59 per site/week compared to 0.64 last year which is a 8% drop and don’t reveal that the number of sites is lower so one low number times another low number gives a low forward order number so don’t reveal that also.

2. In your previous 3.5 years you have bought land at prices that were unviable so impair the sites to the value of £1.5m to £2.8m and instead of taking this write-down as part of trading; call it an exceptional item.

3. In your previous 3.5 years you have ignored the cost of completing estate roads in order to maximise profit but now that the figures are so big that they can’t be ignored (£5.2m to £7.1m) blame others by calling them legacy items and instead of dealing with them as part of trading call this exceptional in spite of the fact that discovering a legacy item of this size after 3.5 years sounds like incompetence.

4. Give a little warning that being in line with market consensus depends on a single land sale and if it doesn’t happen it’s someone else’s fault.

5. Above all, blame someone else.

………….when first we practice to deceive.