New Banking Facilities

RNS Number : 8893U
Gleeson(M J)Group PLC
06 December 2013
 



Gleeson (MJ) Group PLC

(GLE.L)

 

New Banking Facilities

 

Gleeson (GLE.L), the urban regeneration and strategic land specialist, is pleased to announce that it has reached agreement on a new three year, £20 million revolving credit facility with Lloyds Bank Commercial Banking to accelerate its growth strategy. 

 

The Group, which recently reported a 49% increase in revenue and 121% increase in operating profit for the full year ended 30 June 2013, will use the facility to pursue growth by increasing its number of outlets in key geographies and acquiring additional land for development. 

 

Jolyon Harrison, Chief Executive of Gleeson, commented:

 

"This facility strengthens our financial position and provides us with the additional flexibility and capacity for growth.  As reported in our Interim Management Statement, we have a strong forward order book and we see significant opportunities to continue to grow in our target markets."

 

6 December 2013

Enquiries:

MJ Gleeson Group plc


Tel: +44 1252 360 300

Jolyon Harrison

Chief Executive Officer


Alan Martin

Chief Financial Officer





College Hill


Tel: +44 20 7457 2020

Mark Garraway



Helen Tarbet






N+1 Singer



Shaun Dobson


Tel: +44 20 7496 3000

Jenny Wyllie



 


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