Henry Boot continues strong trading
HENRY Boot today said it is trading is in line with expectations, which reflects the slow improvement it is seeing throughout our UK property markets.
The South Yorkshire-based construction and development group, which announced an increase in revenues and profits in its half-yearly results for the period ended 30 June 2013, said it has a number of agreed land sales which are currently working to completion.
In an interim management statement for the period July 1 2013 to November 11 2013, Sheffield-based Henry Boot said the Government’s initiative to assist home buyers to gain access to the mortgage market appears to be having a significant impact and, coupled with the general improvement in the economy, is lifting the confidence of the national house builders.
It said that as a consequence, the group anticipates the new homes land market is likely to continue to strengthen moving forward. The streamlining of planning regulations continues to produce a more certain and consistent decision-making process which is a marked improvement on the earlier system.
Highlights in the period for the group include the first phase of the redevelopment of a listed former wire mill, in partnership with Calderdale & Huddersfield NHS Foundation Trust, which is now substantially complete and the specialist fit out work to create a new dedicated 50,000 sq ft office and out-patients facility, pre-let to the Trust, will start on site early in 2014 and take about a year to complete.
In Stonebridge Homes, the joint venture house builder, Henry Boot said it has had a successful second half year and expects to conclude circa 25 sales by the end of the year at an average selling price of £248k.
In its construction division, Henry Boot said it maintains a very strong presence in the social housing sector with long-term frameworks in Doncaster, North East Lincolnshire, Manchester, Sheffield, Barnsley and Leicester. After carrying a good order book into 2013, the business anticipates its construction business will marginally exceed targeted turnover and is confident that it will achieve targeted profit levels for the year.
