August 24, 2020


(‘Henry Boot’, ‘the Company’ or ‘the Group’)


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 2020. Ticker: BOOT.L: Main market premium listing: FTSE: Real Estate Investment and Services.


  • Revenue of £108.7m (30 June 2019: £189.0m) as all operations were impacted by CV-19 and H1 2019 benefited from the final stage of the TECA project, Aberdeen.
  • Profit before tax of £7.2m (30 June 2019: £24.1m) – slightly ahead of our revised expectations and supported by our land promotion business
  • Earnings per share lower at 4.1p (30 June 2019: 14.2p)
  • Strong net cash position increased to £42.3m (30 June 2019: net debt £50.3m)
  • Declared interim dividend of 2.2p (30 June 2019: 3.7p), which reflects our current financial position and confidence in our long-term markets
  • Net asset value per share robust at 232p (30 June 2019: 233p)
  • Land promotion business sold 2,000 plots across 9 sites and increased land portfolio to 15,456 acres
  • Developments completed on £42m (GDV) of industrial all pre-sold or let. Further committed development of £296m - 95% pre-sold or let. Strong £1.4bn pipeline with 74% in industrial and logistics, remainder in urban development
  • Stonebridge Homes completed on 24 sales in H1, a further 61 forward sales have been secured and on track to hit FY targets
  • Construction steadily recovering and operating at nearly 90%, and Plant Hire at 82%, of planned activity

Commenting on the results, Chief Executive Officer Tim Roberts said:

“The first half of the year has proved to be very challenging for all of us, but with an agile recovery plan and a robust balance sheet Henry Boot remains in a strong position. Right from the beginning of this pandemic we have focused on our stakeholders’ wellbeing and protecting the liquidity of the Group so we can come through this in the best possible way.

While CV-19 has affected our interim results and led us to make difficult decisions to reshape and protect the business, we have seen clear improvements in our operations. As this momentum builds, we have been quick to secure selective long-term opportunities and make progress in our key markets - residential, industrial and urban development. We are prepared for uncertain times ahead but where we see good opportunities to invest, without taking undue risk, we will continue to take them.

I would like to thank all of the Group’s employees for their dedicated hard work during this unprecedented period, whose efforts have helped keep the business viable and produced a robust set of results, which are creditable given the circumstances we are in.”   

Click here to view the full 2020 Half Year Results Announcement


For further information, please contact:


Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Group Finance Director

Daniel Boot, Group Communications Coordinator

Tel: 0114 255 5444


Numis Securities Limited

Joint Corporate Broker

Garry Levin/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

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