REG - MJ Gleeson Plc - Land Sale <Origin Href="QuoteRef">GLEG.L</Origin>

MJ GLEESONAnnouncement

16/07/2015 11:55

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: +44 1252 360 300
Jolyon Harrison
Chief Executive Officer
Alan Martin
Chief Financial Officer
Instinctif
Tel: +44 20 7457 2020
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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