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Deep Value Investing: Finding bargain shares with big potential by Jeroen Bos

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CHAPTER 14. MJ GLEESON

Bought at: 101p (average price, most shares bought during 2009)

Still holding at: 337p (June 2013)

COMPANY BACKGROUND

MJ GLEESON HAS BEEN LISTED on the London Stock Exchange since 1960 and is now over a hundred years old. The company is part of the construction and materials sector.

It has two main divisions: house-building in the north of England, and a strategic land division mainly focusing on the south of England. This second part of the company makes MJ Gleeson a rather unique company that does not lend itself to easy comparison with others in its sector. Its strategic land division was also the main reason for our investment.

A more diversified company than Barratt Developments, over the years 2008–11 Gleeson was ...

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