Property group’s profits increase to £26.2m

Property group Henry Boot saw a 16% increase in profit to £26.2m in the first six months of the year.

The stock market-listed business, which opened its Midlands office in Birmingham last year, issued interim results this morning covering the period until the end of June.

Chief executive John Sutcliffe said he was delighted with the company’s “impressive performance” but there was a word of warning about the uncertainty surrounding Brexit negotiations.

“So long as market conditions remain stable as we transit through the political and economic uncertainties, we look to the future with confidence,” he said.

“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.”

Henry Boot is one of the UK’s leading and long-standing property investment and development, land promotion and construction companies.

Vivienne Clements, director at Henry Boot Developments, added: “Despite launching less than a year ago, our Birmingham office is currently delivering several landmark schemes that are real game changers, such as New Horizon, the 48-acre former Imperial Tobacco site in Nottingham and our pre-let retail scheme The Oaks in Daventry, which has an imminent start date.

“We look forward to further building our pipeline in the Midlands and playing an active role in conversations around the transformation of the region during the coming years.”