22nd Jun 2015 08:47
LONDON (Alliance News) - MJ Gleeson PLC on Monday said its Gleeson Homes unit has exchanged contracts on the sale of a 21-acre site in Stamford Bridge in Yorkshire and said the sale will mean it definitely will beat its expectations for the full year.
The site has planning permission granted for up to 200 plots, Gleeson said. It did not provide any financial details on the sale.
The deal comes after Gleeson last week said it has struck a deal to sell a 12.5 acre piece of land in Sussex, which it said at the time would mean it beats its expectations for the year should the deal close by June 2015.
Gleeson Homes was on track to complete 730 completions in the year to the end of June 2015 and said it will enter the coming year with a robust order book in place.
As a result of the sale, MJ Gleeson said it anticipates its underlying profit for the year to the end of June will be significantly ahead of its expectations. The extra certainty on it beating expectations on the back of the Yorkshire sale is due to the deal being unconditional, meaning it can book the profits from the sale in its 2015 results.
Shares in MJ Gleeson were up 4.8% to 443.75 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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