REG - Next PLC - Sale of land at Waltham Abbey

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RNS Number : 7981I  Next PLC  25 November 2025

25 November 2025

 

NEXT plc ("the Company" or "NEXT")

 

 

 Sale of non-operational land at Waltham Abbey, Essex

 

 ·         £54m additional cash inflow
 ·         Additional cash likely to be returned to shareholders through special dividend
           of 45p
 ·         £16m exceptional profit

In 2021, the Company purchased land near Waltham Abbey with the intention of
consolidating two of our Regional Distribution Centres.  Since then the plans
for our Distribution Centre network have changed, and we no longer plan to use
this land.  As a result, the Company sold the land in a transaction which was
completed on 21 November 2025.

The sale generates net cash proceeds after costs of £54.1 million and an
exceptional profit of £16.3m.  Transactions of this nature do not form part
of our normal business and so this profit will be classified as exceptional.

The £54m of additional cashflow increases the surplus cash we have available
for shareholder distributions in the current year.  In our Q3 Trading
Statement in October we explained that, in the absence of any acquisitions or
further share buybacks this year, we would pay a special dividend of around
£3.10 per share.  The £54m additional cash inflow would increase that
dividend by 45p.

 Contacts:  Jonathan Blanchard, Chief Financial Officer (analyst calls)
            NEXT PLC                        Tel: 0333 777 8888

            Alistair Mackinnon-Musson       Email: next@rowbellpr.com
            Rowbell PR                      Tel: 020 7717 5239

 

 

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