Henry Boot sees profits rise again

Henry Boot has completed all the sales at the main building of the Chocolate Factory
Henry Boot has completed all the sales at the main building of the Chocolate Factory
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Profits with construction firm Henry Boot rose nearly 16 per cent, with management pointing to a strong pipeline of work on its books.

The Sheffield-based group saw profits rise from £22.6m to £26.2m in its interim results.

The firm also reduced its net debt by 58.2 per cent to £26m

Chief Executive John Sutcliffe said: “We are very pleased to report another impressive performance in the first half of 2018, achieving improved profit, earnings per share, net asset value and dividends, while significantly reducing debt, compared to a year ago.

“So long as market conditions remain stable as we transit through the political and economic uncertainties, we look to the future with confidence. We have a strong pipeline of land, housing and commercial development opportunities to provide our customers with the property assets they require.

“Trading in the second half of 2018 has started well, and given the level of forward contracted business, the Board is confident in meeting its expectations for the full year and those for 2019 which, at this early stage, remain unchanged.”