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Last checked at 
6 Dec 2013 07:00
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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