It mentioned: “The group has established an distinctive provision of £12.9m for the estimated prices to remediate life-critical fire-safety points on buildings over 11 metres through which the group had some involvement in growing over the past 30 years.”
The availability was confirmed in Gleeson’s newest outcomes which highlighted a robust yr because the agency’s technique of constructing reasonably priced properties paid off.
For the yr to June 30 2022 Gleeson made a pre-tax revenue of £42.6m from turnover of £373.4m promoting 2,000 properties at a median value of £167,300.
Chairman Dermot Gleeson mentioned: “That is one other wonderful efficiency which displays not solely the robust operational functionality of our enterprise but in addition the persevering with structural under-supply of reasonably priced properties for first time consumers on low incomes.
“The board has reviewed a variety of macroeconomic forecasts and, however the present outlook for the broader financial system, stays assured that the group, with its defensive qualities and distinctive place throughout the wider home constructing sector, is well-positioned to ship additional worthwhile development within the present monetary yr.”