Member Article

Sheffield construction firm Henry Boot reports increased pretax profit

Sheffield-based construction firm Henry Boot has reported a strong first half to the year with pretax profit increasing to £13.4 million despite a decrease in revenue.

For the same period last year, the firm reported pretax profits of £7.3 million with a revenue of £81.8 million. Revenue has reportedly decreased this year to £65.8 million.

Chairman, John Brown, said: “I am pleased to report another strong set of results for Henry Boot for the half year ended 30 June 2014.

Commercial development activity is now at its highest level since 2007 with new, pre-let developments achieving hurdle rates of return, expected to commence in the second half of the year.

“The combination of this increased level of commercial development, our strategic land sites with well over 10,800 permissioned housing units available for future sale and the solid returns from the construction segment should strongly support growing shareholder returns into 2015 and beyond.

We currently anticipate trading profits including revaluation gains to exceed the Board’s initial expectations for the year.

“We will, of course, keep the market advised of progress during the rest of the year via the Interim Management Statement in November and pre-close Trading Statement in January 2015.”

This was posted in Bdaily's Members' News section by Clare Burnett .