UK's MJ Gleeson flags profit dip for low-cost housebuilding unit
MJ Gleeson - which specialises in affordable housing - operates two divisions, Gleeson Homes and Gleeson Land. The former accounted for 95% of the company's total revenue in 2024.
"The pace of the housing market recovery has not been sufficient to offset the cumulative impact on Gleeson Homes' gross margin of a number of headwinds through the year," the company said in a statement.
It added that factors including planning delays, which will result in the business selling from fewer sites than previously forecast, will continue to impact the unit's margins into fiscal year 2026.
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Daily Mail
a few seconds ago
- Daily Mail
Britain is ready to fight if conflict breaks out over Taiwan, says Defence Secretary John Healey
Defence Secretary John Healey has said Britain is ready to fight if conflict breaks out over Taiwan. The island nation has long been at loggerheads with China, strongly rejecting Beijing 's claim to sovereignty over it after the countries separated in the late forties. China's president Xi Jinping has previously said he would not rule out using force in the 'reunification of the motherland'. And now Mr Healey, when asked what the UK is doing to help countries like Taiwan prepare for potential Chinese escalation, has said Britain would fight in the Pacific. He was speaking on a visit to the HMS Prince of Wales, docked in the Australian city of Darwin, with the country's deputy prime minister and defence minister Richard Marles. He told The Telegraph, during the carrier group's nine-month Pacific deployment: 'If we have to fight, as we have done in the past, Australia and the UK are nations that will fight together. 'We exercise together and by exercising together and being more ready to fight, we deter better together.' These are some of the strongest words ever issued by the British government on the topic of potential engagement in any conflict in the region. The island nation has long been at loggerheads with China, strongly rejecting Beijing's claim to sovereignty over it after the countries separated in the late forties. Pictured: From second left, Mr Healey, Australian deputy prime minister and minister for defence Richard Marles, British foreign secretary David Lammy and Australian foreign minster Penny Wong on the visit to the HMS Prince of Wales aircraft carrier today But the minister emphasised he was talking in 'general terms' - and the UK would prefer any disputes there were resolved 'peacefully' and 'diplomatically'. 'We secure peace through strength, and our strength comes from our allies', he added. Experts have previously warned an invasion of Taiwan could cause a large-scale conflict, pulling in nations from across the world. It is because the country manufactures most advanced computer chips. Mr Healey said 'threats' in the Indo-Pacific region are on the rise. It follows the Chinese military taking control of contentious reefs - and was accused of intimidating its neighbours there. The Defence Secretary's remarks also come as the HMS Prince of Wales carrier group sails with advanced F-35 fighter jets from Singapore to northern Australia for the first time in nearly 40 years. The fleet will continue on to Japan, likely coming close to Taiwan. The Defence Secretary's remarks also come as the HMS Prince of Wales carrier group (pictured on the visit today) sails with advanced F-35 fighter jets from Singapore to northern Australia for the first time in nearly 40 years Deploying the strike carrier group, which is the UK's largest of its kind, in the Pacific for nine-months shows Britain is aware of increasing threats in the region. Sending it to Darwin in particular indicates close ties between the UK and Australia - key to any potential conflict in the Indo-Pacific. Indeed, Mr Healey noted such a partnership was especially important currently, as threats in the region increase. The defence secretary emphasised the UK's interest in international rules, stability and security, as well as both freedom of the seas and navigation in the area. British officials have previously not commented on whether the UK would intervene in any conflict in the region. This is in line with the United States' stance, which has been dubbed 'strategic ambiguity' - and most other nations follow it too. Two Royal Navy patrol vessels are stationed permanently in the region. The UK government recognised, in its National Security Strategy published earlier this year: 'There is a particular risk of escalation around Taiwan.' Former defence secretary Gavin Williamson (pictured in 2019) said the UK is probably becoming more candid on its stance on the matter as threats in the Indo-Pacific increase. Former defence secretary Gavin Williamson said the UK is probably becoming more candid on its stance on the matter as threats in the Indo-Pacific increase. 'I think there's a realisation that by being completely silent it doesn't make it more or less likely', he explained. Deterrence, he added, involves making clear the consequences that will come if others act dangerously or maliciously. Mr Williamson, who led the MoD from 2017 to 2019, added it is important someone as prominent as the British defence secretary is clear actions have consequences. Former US president Joe Biden has previously broken strategic ambiguity on several occasions, saying the US would support Taiwan against China. His successor Donald Trump has not done this - but Pentagon officials are said to be preparing for conflict. His government has said it will review its membership of the AUKUS security agreement, between the US, Australia and the UK. It comes as part of Mr Trump's 'America first' approach. Australian prime minister Anthony Albanese has also not spoken out whether the nation would join the US and other allies to fight China in any conflict in the region. He refused to comment on the matter last week. The UK and Australia have made a renewed commitment to each other in recent times. The two nations signed the Geelong Treaty this weekend - a 50-year agreement cementing their commitment to the AUKUS pact. It also commits them to building a new fleet of nuclear-powered submarines. The HMS Prince of Wales anchoring in Darwin marks the first time a British carrier strike group has docked in Australia. It is also the first time a non-US carrier has taken part in Australia's annual military drills, the so-called Talisman Sabre. The event this year was the largest it has ever been. While the UK is turning more of its attention to the Indo-Pacific, Mr Healey (pictured on the visit today) confirmed there would be no change to its level of engagement with Taiwan Foreign secretary David Lammy also boarded the HMS Prince of Wales, on the same day as and just before his colleague Mr Healey. He has previously said Britain plans to undertake more freedom of navigation operations in the Taiwan Strait. Last month, a Royal Navy patrol ship, the HMS Spey, moved through the strait - which was praised by Taiwan but frowned upon by China. Britain does not comment on the future movements of its vessels. But it is thought the HMS Prince of Wales will soon also travel through the strait on its way to South Korea and Japan. While the UK is turning more of its attention to the Indo-Pacific, Mr Healey confirmed there would be no change to its level of engagement with Taiwan. Mr Williamson said Britain would likely only alter this stance if China got increasingly aggressive.
Daily Mail
a few seconds ago
- Daily Mail
Trump announces 'very powerful deal' with the EU
Published: Updated: President Donald Trump announced he had reached a 'very powerful' trade deal with the European Union that would lower barriers to U.S. exports and bring new European investments into the U.S. Trump called it 'a very powerful deal' as well as 'a very big deal. It's the biggest of all the deals.' He also called it 'the biggest deal ever made.' Speaking from his Turnberry golf course, Trump said European Union countries would purchase $750 billion of energy from the U.S. and provide an additional $600 billion in U.S. investments. 'All of the countries will be opened up to trade with the United States at zero tariff, and they're agreeing to purchase a vast amount of military equipment,' Trump added. 'We don't know what that number is.' It came after Trump inveighed against 'one-sided' trade with Europe as he sat down at his Turnberry golf course with the EU Commission president, while raging against windmills and saying there were prospects for reaching a deal imminently. 'We wanted to rebalance the trade relations,' said EU Commission Chair Ursula von der Leyen, confirming the agreement while sitting alongside Trump. Trump flashed his anger when a reporter asked if turmoil over the Jeffrey Epstein story had contributed to the rush to get the deal done. 'Oh, you've got to be kidding. No – had nothing to do with it. Only you would make that. That had nothing to do with it,' Trump responded. Both leaders made nice – after the 'Liberation Day' tariffs Trump rolled out in April threatened to cleave the powerful allies. Trump had more recently threatened a 30 percent tariff on the EU – providing an incentive to negotiate it down. Trump, upon arriving here in Scotland, said the powerful trade bloc must 'buy down' the number. 'Basically the European market is open,' said von der Leyen. 'It's 450 million people, so it's a good deal. It's a huge deal. Was tough negotiations. I knew it at the beginning, and it was indeed very tough, but we came to a good conclusion from both sides,' she said. The number comports with what had already been floated. 'We are agreeing that the tariff straight across for automobiles and everything else' would be 15 percent, said Trump. The agreement – with details still to be revealed – comes after Trump announced other agreements with Japan and other nations, while firing off a series of trade 'letters' announcing new tariffs he is imposing on other nations. Japan, too, would face a 15 percent rate on its auto exports to the U.S. After many economists warned that Trump's tariffs could break the alliance, the two leaders proclaimed new cooperation after they had agreed to broad terms. 'This deal will bring us very close together actually. It's a partnership in a sense,' Trump said. The progress came about an hour after Trump complained about the trade relationship. 'It's been a very one-sided transaction – very unfair to the United States,' he complained alongside von der Leyen, keeping her hands in her lap and her expressions muted. 'It's been a very, very one-sided deal, and it shouldn't be,' Trump fumed. He said a deal, if it can be reached, would be the biggest deal 'ever struck by anybody.' 'This is the biggest deal. People don't realize – this is bigger than any other deal. And it could happen – should happen,' he said. Fielding questions at a press event that put the 'working' in what his team calls a 'working visit,' Trump went off on a number of topics. His attacks quickly changed to wind turbines he said obstruct the view from his Scottish golf course. 'It ruins the landscape. It kills the birds. They're noisy,' Trump complained. He said what he terms windmills in Massachusetts were 'driving them loco – driving them crazy.' 'Today I'm playing the best course, I think, in the world: Turnberry ... And I look over the horizon and I see nine windmills. I say isn't that a shame,' he said. On immigration, another tension point, Trump said: 'We've sealed our borders. We have nobody coming in ... I think they're going to end up in the same place. You might as well go there quicker.' Von der Leyen shared his assessment on the chance of reaching an agreement, putting it at 50 percent. Trump got asked at one point if he could do better than 15 percent – the amount of a tariff on European imports that has been floated as a potential final number in an agreement. 'Better meaning lower? No,' Trump said flatly. But the former German politician showed some give in her own remarks and kept her composure even as Trump tore into European policies on trade, energy, and immigration.
BBC News
a few seconds ago
- BBC News
Al-Nassr agree £43.7m deal with Chelsea for Felix
Al-Nassr have agreed a deal worth up to £43.7m for Chelsea forward Joao 25-year-old has been given permission to travel to Riyadh for his medical to complete the will link up with fellow Portugal international Cristiano Ronaldo at the Saudi Pro League side after they saw off interest from his former club recoup the £45m they paid Atletico Madrid for Felix last summer, having also sent the attacker out on loan to AC Milan for six months in January for a £5m loan Blues, who won the Club World Cup this month, have already sold goalkeepers Djordje Petrovic and Kepa Arrizabalaga and winger Noni Madueke to balance the books this have raised about £130m with further players like forward Raheem Sterling, left-back Ben Chilwell, midfielder Renato Veiga and striker Armando Broja currently up for have spent £212m on signings like striker Liam Delap, winger Jamie Gittens and forward Joao Pedro with interest in midfielder Xavi Simons and defender Jorrel Hato they are also under pressure from Uefa to come out of the summer with a "positive transfer balance" after being initially fined £27m with conditions placed on the club to comply with rules, or risk not being able to register new signings for the Champions League this season.
