MJ Gleeson Cuts Outlook on Slow UK Recovery, Planning Hurdles
MJ Gleeson Plc slashed guidance, citing a slow housing market recovery in the UK and planning delays.
The company, which specializes in affordable housing, now expects operating profit to be around 15%-20% below previous expectations for the year ending June 30, according to a statement Tuesday. It also anticipates its gross margin in the homes division to be about 1% lower than previously forecast.
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