New Banking Facilities

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: