Henry Boot sees FY profit slightly ahead of market views

Land and property investor and construction company Henry Boot expects pre-tax profit and earnings per share for the year to the end of December to be slightly ahead of market views following a busy December.

The company said the final month of 2016 was busy from a deal completion perspective. Certain land and property development deals completed in line with its expectations and December also saw a total of 44 residential completions at the group’s JV house builder, Stonebridge Projects, and The Chocolate Factory in York.

In addition, construction work on the Aberdeen Exhibition and Conference Centre development is ahead of schedule, resulting in marginally higher profit recognition for the year.

Henry Boot also said it has now received the draft investment property valuation data for its portfolio for 31 December 2016 which was as expected.

“Furthermore, and notwithstanding the continuing macroeconomic concerns regarding the EU referendum, the committed and contracted activity we already have in place means we start 2017 in an excellent position to achieve yet another year of further progress, delivering growth in long-term shareholder value.”

At 0926 GMT, the shares were up 1.1% to 200.50p.