Optimistic Henry Boot predicts improved profits

THE successful completion of developments including The Chocolate Factory at York have put Henry Boot directors in an optimistic mood for 2017.

The Sheffield-based construction business is predicting that pre-tax profits for the year to December 31, 2016 will be modestly ahead of market expectations.

It has marked the completion of 44 residential developments at its JV housebuilder Stonebridge Projects, including the iconic York site, with its Aberdeen Exhibition and Conference Centre project ahead of schedule, which it says will result in a higher profit recognition for the year.

It said that despite concerns and uncertainty relating to the Brexit vote, its current pipeline and on-site projects mean it is in an “excellent position” for 2017.

At the end of last year the business reported that pre-tax profits were up 48% as it benefits from the upturn in the construction sector.

 

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