MJ Gleeson's chief executive has blamed his company's exposure to the flagging north-west England market for its poor results in the second half of 2007. The housing and regeneration group, which offloaded its building arm in July 2005 with debts of about £50m as part of a management buyout, posted a pre-tax loss of £315,000, compared with a £275,000 loss in 2006. Turnover fell from £78.9m to £48.9m.
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