Bowman
21 Feb 2020
CEO departure Itdya, I do not contribute to these boards much these days; it all got a bit boring to be honest, although I do read a lot of the contributions. GLE seemed to recover quite well after the CEO departure, and are currently quite a bit up on the pre-departure announcement level. GLE still comes fairly high up in my ranking system, and I am up 30% in 18 months, which I am happy with. It seems that they are plodding along, delivering what they have promised without any unnecessary distractions.
In_the_dark_yet_again
16 Jan 2020
CEO departure @Bowman Very quiet board indeed. Sorry for the delay in responding. The old iii site before this ‘new’ discussion platform I found much easier to follow up on comments but that’s progress I guess. I’m glad to hear that, finally, at last, the NEDs on a Remuneration Committee hadve stood up to a CEO and said no - normally they just roll-over. Not knocking the company performance but how much was down to the CEO? MJ Gleeson have had this same plan of what they were going to do and how they were going to do it for a very long time, before Mr Harrison arrived. There have been times when they were strongly criticised for sticking to that plan, not ‘embarrassing’ other opportunities but stick to it they have and I love it… I don’t want them to diversify, I can do that myself by rebalancing my portfolio much easier/cheaper/quicker; stick to what you are good at and investors like me will come! So the ex-CEO wants to go back to running his own development business where he can make more money for himself? Good luck to him. If he is that good he will succeed… profit using his own capital and risk, not mine. The new boss, it’s not broken, don’t change it. Regards, ITDYA, still loving the fact that they stick to what they are good at.
Bowman
10 Jun 2019
CEO departure Not much comment on this Company. The markets do not seem to like the announcement of the CEO’s sudden departure. “Following extensive discussions with Mr Harrison regarding his remuneration and succession planning, the Board concluded that it was not possible to find a mutually acceptable basis for Mr Harrison to continue as Chief Executive Officerâ€. It would appear that the Company are unprepared to pay what was being asked, and Mr Harrison went off in a huff. It is to be hoped that GLE can show that they can prosper without excessive Director remuneration, and that they can find a less expensive replacement.
In_the_dark_yet_again
14 Feb 2019
Trading Update LSE:GLE [link] Rumours of the demise of the housing sector would appear to have been premature! Cracking set of numbers, pretty much in line with their forecasts (which many had doubted). I particularly like it because it’s at the other end of the scale from my other position in Persimmon. With Gleeson I get the feeling there’s plenty more to come as the demand at the lower end for ‘affordable’ housing seems insatiable yet none of the other builders seem interested. Regards, ITDYA
Bowman
07 Jan 2019
Trading Update Another trading update released today [click to view]. Not a great deal of details however, it does show the dire state of the housing sector! Gleeson Homes completed the sale of 691 units during the period, an increase of 16.5% on the previous first half-year’s total of 593 unit completions. We continue to see strong demand for our low-cost homes, supporting both increased build activity on existing sites and the opening of new sites across our target geographic area. Our two pilot offices in Penrith and Ashington recently became fully-staffed area offices. Our target market remains strong and our customers have maintained their confidence. We do not see any signs of customer caution. It is obvious that the markets are seeing though this apparent misguided optimism, since GLE is showing a change in the sp of ~9% (according to IG). Oh, just a minute that is a gain of 9%, so maybe the market is actually seeing through the current media pessimism!! I suppose the real test will be to see if the sp can stay above the 700 level over the coming weeks, especially in view of the impending media blitz on behalf of project fear (which of course will have next to nothing to do with reality, but will, I suspect, influence some). gle chart.png2812x2054 267 KB
In_the_dark_yet_again
18 Sep 2018
Trading Update LSE:GLE [[link] Didn’t get a chance yesterday but just had a look. Great set of results. More than justifies the ‘Board’s confidence’ in that trading statement. Only fly in the ointment I can see is that the dividend isn’t covered by current free cashflow which, while it is rising, is lagging the growth in the other numbers. Not a huge problem as there’s loads of cash sitting around. As long as the increased receivables get converted to cash as some point it will be fine. Me, slightly surprised the market hasn’t marked it up more. Severely tempted to buy some more just the whole sector seems depressed (Brexit possibly?) so it feels a little like stepping out in front of a bus - it might stop before it hits you but there’s no guarantee. Regards, ITDYA
smiles1
29 Aug 2018
How Low ? So nearly the whole of this years gains wiped out and we are back down to the £7 mark. Not great considering Brokers targets of upto £8.90. I always question what timescales these figures are based on
Bowman
05 Jul 2018
Trading Update Just noticed there was a trading update TNS from GLE this morning. I was wondering why the SP had dropped, although it seems that most are on the downside. I did not think the RNS seemed too bad. [click on blue text to access RNS] Housebuilders 2.png1074x367 155 KB Summary The Group continued to generate strong cash flows and increased its cash balances at 30 June 2018 to £41.3m (30 June 2017: £34.1m). As a result of the strong performance in the financial year, the Board is confident that the results for the financial year will be comfortably in line with expectations.
smiles1
29 Jan 2018
How Low ? Here we go again £7 in sight 
smiles1
12 Jan 2018
Re: How high ? £8 is now a long way off now never mind £10
southernstar
04 Dec 2017
How high ? Someone is happy to pay a lot more than I did. Could it reach £10 ?
II Editor
03 Oct 2017
NEW ARTICLE: Stockwatch: An off-the-radar bet on Help to Buy "Is this "affordable" housebuilder and land trader LSE:GLE:MJ Gleeson set for continued growth despite interest rate poised to rise?Following latest prelims to end-June the FTSE Small-cap stock is up 8% to 670p, still below its 2017 high of 705p, ..."[link]
dazedandconfused
25 Sep 2017
annual results and lifted dividend can't find too many concerns with this statement, and the twin track approach of selling affordable housing in North, with speculative plot options in the South for future planning/sale just seems right at the moment. Plus the lifted Divi - this share price has been a bit meeh lately, but will hopefully jump this week...
II Editor
05 Jul 2017
NEW ARTICLE: Housebuilders bounce back, but should you invest? "House prices remain a favourite dinner party talking-point, but sentiment toward housebuilders has ebbed and flowed in recent times, with the sector hardest hit in the immediate aftermath of the Brexit vote last June.However, those firms ..."[link]
smiles1
28 Jun 2017
Re: Why? Thanks Pie-eater
