Land Sale

RNS Number : 7839Q

MJ Gleeson PLC

22 June 2015

 

22 June 2015

MJ GLEESON PLC

LAND SALE

MJ Gleeson plc (GLE.L), the urban regeneration and strategic land specialist, today announces that Gleeson Homes has unconditionally exchanged on the sale of a 21 acre site in Stamford Bridge, Yorkshire, which has planning permission for the development of up to 200 plots. 

Whilst completion will occur in July 2015, there are no conditions to satisfy prior to completion and, accordingly, the sale will be recognised in the current financial year ending 30 June 2015.

Gleeson Homes expects to achieve, at least, the previously advised 730 completions in the year ended 30 June 2015 and will enter the next financial year with a strong forward order book.

Following this and the previously advised disposal, the Board now expects that underlying profit for the full year ended 30 June 2015 will be significantly ahead of expectations.

Enquiries:

MJ Gleeson plc		Tel: [phone]
Jolyon Harrison	Chief Executive Officer
Alan Martin	Chief Financial Officer
Instinctif		Tel: [phone]
Mark Garraway
Helen Tarbet
James Gray

Notes to Editors

MJ Gleeson plc operates in the house building sector through the following business units; Gleeson Homes, which focuses on estate regeneration and housing development on brownfield land in the North of England; and Gleeson Strategic Land, which purchases options over land in the South of England with the objective of enhancing the value of the site concerned by securing residential planning permission.

 

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