According to the figures, group revenue was up 29.4% to £373.4m and profit before tax – before an exceptional building safety cost provision of £12.9 million – up 33.1% to £55.5m.
The firm opened 23 new sites in the year and the average selling price of its 2,000 homes rose 14.7% to £167,300 from £145,800 last year. Operating profit at Gleeson Homes was up 36.9% to £51.2 million while at Gleeson Land it stayed steady at £11.1 million with six land sales completed during the year.
Dermot Gleeson, Chairman, said: “This is another excellent performance which reflects not only the strong operational capability of our business but also the continuing structural under-supply of affordable homes for first-time buyers on low incomes.
“As well as being affordable, our high-quality homes are also very energy efficient, costing significantly less to run than most houses in the UK, particularly in the rented sector. As a result, our homes are much sought after, and demand remains resilient.
“Gleeson Land’s market remained robust throughout the year and the business delivered a strong result. Demand in the South of England for quality sites with sustainable and implementable residential planning permission remains strong and the division is well-placed to drive further sustainable growth."
