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Next PLC on Tuesday said it has sold non-operational land near Waltham Abbey in Essex for £54.1 million. The Leicester, England-based clothing retailer purchased the land in 2021 as it planned to consolidate two of its regional distribution centres. Since then, Next said its plans have changed, and it no longer intends to use the land. The sale generated an exceptional profit of £16.3 million. It will be classified as exceptional in the firm’s results, as the sale is not part of the retailer’s normal business. Next said the cashflow increases the cash it has available for shareholder distributions. In October, the company said that in the absence of any acquisitions or further share buybacks this year it would pay a special dividend of around £3.10 per share. Next said the additional cash inflow from the land sale would increase that dividend by 45 pence to £3.55 per share. Shares in Next were up 0.2% at 13,720.00 pence on Tuesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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