Robinson has issued an update on its previously disclosed programme of surplus real estate disposals, including details of new agreements and completions. We are including P&L gains in our FY25E and FY26E forecasts (no impact on adjusted earnings) and we are including additional cash receipts which reduce our FY26E net debt to £4.7m from £5.9m previously. The announcements represent positive progress against the company’s stated strategy and we maintain our 155p target price.
