Henry Boot PLC delivers 'record financial performance' as turnover surpasses £400m

Henry Boot PLC, the Sheffield-based company engaged in land promotion, property investment, development and construction, has seen turnover surpass £400m in a “record financial performance”.

For the year ending 31st December 2017, Henry Boot saw revenue increase by 33% to £408.5m, compared to £306.8m in 2016.

During this period, the company also reported a 40% increase in pre-tax profit to £55.4m, up form £39.5m in the previous year.

In 2017, Henry Boot sold 15 strategic land sites, delivered over £60m of construction work, £17m of plant hire sales and almost £25m of new house sales through its joint venture house builder, Stonebridge Homes.

The company is currently working on a wide range of projects, including the new Aberdeen Exhibition and Conference Centre, the residential conversion of the former Terry’s Chocolate Factory and the extension of its Markham Vale industrial scheme.

John Sutcliffe, CEO of Henry Boot, said: “2017 delivered a record financial performance, primarily due to development schemes being delivered more quickly than we initially anticipated.

“As a result, profit before tax and earnings per share increased by 40% and 49% respectively, and we were able to more than replenish our portfolio of future opportunities during the year.

“Notwithstanding any potential impact from the decision to leave the EU, our business model and strategic aims remain unchanged, and 2018 has started well across all our business streams.”

Vivienne Clements, director at Henry Boot Developments, added: “2017 has been an incredible year for our business - we opened our sixth regional office in Birmingham, expanded our regional teams and continued to deliver high quality, standout schemes throughout the country.

“Our Yorkshire and North East team is focused on the delivery of several major projects including the International Advanced Manufacturing Park in Sunderland and our flagship industrial scheme, Markham Vale.

“Our financial results illustrate the strength of our business and our hugely talented and ambitious team. We’ve been part of the property industry for or over 130 years and the legacy of what we create is extremely important to us - something which is reflected in the quality of the schemes we deliver and the strength of our reputation.”

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