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10 Dec 2010 11:00
Friday, 10th December 2010
M J GLEESON GROUP PLC
AGM Statement
At the Annual General Meeting of M J Gleeson Group plc (GLE.L), the urban and strategic land specialist, convened for 11 am today in London, the Chairman, Dermot Gleeson, will state:
"Turning to the current year and beyond, I have a little to add to the Interim Management Statement issued on 19th November 2010. The housing market continues to remain challenging due in particular to a renewed downturn in mortgage availability and the adverse impact on buyer confidence of the Government's spending review. Despite these difficulties, however, the trading to date during the current year remains in line with our expectations. Compared with the same period last year, visitors to site are up 12%, private completions are up 35% and overall unit sales are up 50%.
Against this background, the Board is increasingly confident that the Group's exceptionally rigorous control of construction costs and its very disciplined approach to acquiring land are laying the foundations needed for a return to profitable and sustainable growth."
Enquiries:
M J Gleeson Group plc 01252 360300
Dermot Gleeson (Chairman)
Alan Martin (Group Finance Director
& Chief Operating Officer)
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