Gleeson Homes:
o Unit sales increased 12.8% to 451 units (H1 15/16: 400)
o Revenue increased 9.4% to £54.7m (H1 15/16: £50.0m)
o ASP down 2.9% to £121,400 (H1 15/16: £125,000) due to development mix
o Gross margin improved to 31.9% (H1 15/16: 30.6%)
o Operating profit increased by 10.4% to £8.5m (H1 15/16: £7.7m)
o Operating margin increased to 15.5% (H1 15/16: 15.4%)
o Land pipeline, including conditionally purchased sites, of 10,454 plots (June 2016: 9,284 plots)
o Geographic expansion continues, with more site openings planned in existing and new areas
Gleeson Strategic Land:
o Completed 3 land sales (H1 15/16: 4 land sales) and generated turnover of £8.3m (H1 15/16: £14.7m)
o Operating profit decreased by 4.8% to £4.0m (H1 15/16: £4.2m) due to phasing in the prior half year, as expected
o 13 sites in the portfolio have either planning permission or a resolution to grant permission (H1 14/15: 10 sites)
o Full year Strategic Land result expected to be broadly in line with last year
Operating & investing cash flows increased to £8.6m (H1 15/16: £2.2m outflow)
Interim dividend increased 44.4% to 6.5 pence per share (H1 15/16: 4.5 pence)