25 November 2025
NEXT plc ("the Company" or "NEXT")
Sale of non-operational land at Waltham Abbey, Essex
| · | £54m additional cash inflow |
| · | Additional cash likely to be returned to shareholders through special dividend of 45p |
| · | £16m exceptional profit |
In 2021, the Company purchased land near Waltham Abbey with the intention of consolidating two of our Regional Distribution Centres. Since then the plans for our Distribution Centre network have changed, and we no longer plan to use this land. As a result, the Company sold the land in a transaction which was completed on 21 November 2025.
The sale generates net cash proceeds after costs of £54.1 million and an exceptional profit of £16.3m. Transactions of this nature do not form part of our normal business and so this profit will be classified as exceptional.
The £54m of additional cashflow increases the surplus cash we have available for shareholder distributions in the current year. In our Q3 Trading Statement in October we explained that, in the absence of any acquisitions or further share buybacks this year, we would pay a special dividend of around £3.10 per share. The £54m additional cash inflow would increase that dividend by 45p.
| Contacts: | Jonathan Blanchard, Chief Financial Officer (analyst calls) | |
|
| NEXT PLC
| Tel: 0333 777 8888 |
| | Alistair Mackinnon-Musson | Email: next@rowbellpr.com |
| | Rowbell PR | Tel: 020 7717 5239 |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
