Robinson sells surplus property to reduce bank debt

(Sharecast News) - Robinson said on Tuesday that it had completed the sale of its Hipper House surplus property, with proceeds to be used to reduce bank debt.

The AIM-traded custom plastic and paperboard packaging manufacturer said exchange of contracts and completion took place simultaneously on 1 May.

It said the consideration due on completion was £760,000, while Robinson had committed to pay future costs of up to £30,000.

Net proceeds of £730,000 would be used to reduce current bank debt.

The firm said the property generated rental income of £25,224 in 2025 and had a book value of £316,519 at 31 December.

Robinson said it remained its intention over time to realise value from surplus property disposals and use the proceeds to reduce indebtedness and develop its packaging business.

At 1345 BST, shares in Robinson were up 4% at 130p.

Reporting by Josh White for Sharecast.com,

See latest RNS on Investegate

Robinson