Dermot Gleeson says demand in construction services remained high particuarly in the public and utility sectors.

Gleeson has announced that profits for the current financial year will be in line with expectations.

At the AGM earlier today chairman Dermot Gleeson said that demand for construction services remained high and was particularly strong in the public and utility sectors.

Gleeson said short-term prospects in the housing market remained uncertain but said he had confidence in the performances of the company’s housing operations. He said: “Barring a substantial further deterioration in demand, the Board remains confident that both Gleeson Homes and Gleeson Regeneration, which specialise in low-cost homes for sale, will achieve further increases in turnover and profits.

The AGM was told that the commercial property investment market remained strong and said Gleeson Properties was on course to achieve good results in the current year.

The appointment of Martin Smout as managing director at Gleeson Building was also announced. Smout was formerly the managing director at Carillion Building.

Recently Gleeson signed a five-year framework agreement with London Underground which is likely to have a value of in excess of £75m. The engineering division has been appointed as preferred bidder by four of the major water companies for their forthcoming five year investment plans.