- Gross margin drops to 27 per cent
- Average selling price up 11.3 per cent
At this point in the housing downturn, most housebuilders are saying the same thing. Higher interest rates have reduced buyers’ budgets, which means revenue, profit, dividends, selling price and forward sales have all fallen. Not MJ Gleeson (GLE). While most of that sentence rings true, its selling prices and forward sales have increased.