2019 INTERIM RESULTS ANNOUNCEMENT
HENRY BOOT PLC
(‘Henry Boot’, ‘the Company’ or ‘the Group’)
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2019
Henry Boot PLC, a company engaged in land promotion, property investment and development, and construction, announces its interim results for the period ended 30 June 2019. Ticker: BOOT.L: Main market premium listing: FTSE: construction & materials.
HIGHLIGHTS
|
|
|
30 June 2019 |
30 June 2018 |
% change |
|
|
Profit before tax |
£24.1m |
£26.2m |
-8.0% |
|
|
Operating profit |
£24.7m |
£26.4m |
-6.4% |
|
|
Earnings per share |
14.2p |
15.7p |
-9.6% |
|
|
Interim dividend |
3.70p |
3.20p |
+15.6% |
|
|
Net debt |
£50.3m |
£26.0m |
+93.5% |
|
|
Net asset value per share |
233p |
217p |
+7.4% |
Commenting on the results, Chief Executive John Sutcliffe said:
“Once again, we are very pleased to report on another period of successful trading. A deal-driven business, such as Henry Boot, always shows a degree of variability in profits and to have achieved over £24m in profit before tax, given the uncertainties affecting the UK economy, is a very resilient result.
Trading conditions in the first half have remained consistent with 2018 and all business streams performed well as we continued to deliver a significant number of high quality land, housing and commercial development opportunities. Hallam Land, in particular, had a strong half year.
After the period end, we completed and handed over The Event Complex Aberdeen (TECA), concluded on two investment property sales, exchanged contracts on a further two and acquired a majority shareholding in Starfish Commercial Limited, a small partnership homes contractor in the North of England.
Trading in the second half has started well and we remain confident in meeting expectations for the full year, albeit some uncertainty remains regarding the UK’s exit from the EU and how this may affect future trading conditions. However, the opportunities we have do not change and we will be carrying little or no debt, from the disposal of assets held for sale, should any competitively priced assets become available to us.”
An interview with John Sutcliffe, CEO commenting on the Interim Results is available to view here or at http://www.henryboot.co.uk/investors/.
Click here to view the full 2019 Half Year Results Announcement
For further information, please contact:
Henry Boot PLC
John Sutcliffe, Chief Executive Officer
Darren Littlewood, Group Finance Director
Tel: 0114 255 5444
Numis Securities Limited
Joint Corporate Broker
Garry Levin/Tom Ballard/George Fry
Tel: 020 7260 1000
Peel Hunt LLP
Joint Corporate Broker
Charles Batten/Harry Nicholas
Tel: 020 7418 8900
Hudson Sandler LLP
Financial PR
Nick Lyon/Wendy Baker
Tel: 020 7796 4133
