MJ Gleeson has reported a 'strong performance' for the Group in the year ended 30 June 2016.

The house builder revealed revenue had risen 20.8% to £142.1 million in 2016 compared with £117.6 million in 2015.

In addition, profit before tax jumped dramatically by 63% from £17.3m to £28.2m.

With 904 units sold at an average selling price of £125,700, Group Chairman Dermot Gleeson said the Board has "every confidence" for the company's future outlook.

"Our twin track strategy - the development of low cost homes for open market sale in the North of England and strategic land sales in the South - goes from strength to strength, delivering increased margins, profits and cash," he said.

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"Gleeson Homes continues to see strong customer demand for its low cost homes. The opening of two new regional offices and the increase in its land pipeline to 9,284 plots will enable the division to continue to grow in what remains a strong market for low cost homes in the North of England. We have commenced rolling out our distinctive and highly successful business model across a wider geographic area. The potential number of purchasers of Gleeson Homes in this wider area is three times the comparable figure within our current market.

"Similarly, Gleeson Strategic Land continues to see strong demand for consented land in prime locations from a wide range of housebuilders. The division has a strong pipeline of sites, predominantly in the South of England, covering 3,843 acres (2015: 3,936 acres), and expects to continue to enjoy a high level of success in promoting commercially attractive sites through the planning system."

(LM/MH)