The urban regeneration company has said back in April that it expects it profit for the year to end-June to be in line with or possibly better than market expectations.
However, since then it said it took advantage of strong demand from major housebuilders for green field residential land in the south of
It said it now has four sites with planning permission and two more sites with resolutions to grant planning permission subject to legal agreements. A further 16 sites are the subject of either submitted planning applications or lodged planning appeals. It strategic portfolio consists of 64 sites totalling 3,800 gross acres, which have the potential to deliver 21,000 plots.
On top of the land sales, its
"The proportion of units sold on recently acquired, higher margin sites continued to improve with 84% of the units sold from the higher margin sites compared to last year's 75%. The increase in sales from these sites, along with the increase in the volume of sales, substantially improved the profitability of the business unit for the year," the company said in a statement.
The unit's forward order book on
MJ Gleeson shares were up 5.6% at
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