HENRY BOOT has nudged up market expectations of its 2015 performance after a “very busy” December finished the year on a high.
The Sheffield-based developer said the sale of four strategic land sites and four completed development properties in the final month of the year.
It said that pre-tax profits, and earnings per share, are now expected to be “slightly ahead” of market expectations.
In a statement to the stock market, it said: “We are now on site with the residential redevelopment of the former Chocolate Factory in York and expect to begin selling units from this scheme imminently, with show homes opening in March 2016. In addition, the fully pre-let and pre-sold 480,000 sq ft distribution unit at Markham Vale commenced in November 2015 for completion late in 2016.
“We recently obtained detailed planning permission for our major development in Aberdeen which includes a conference centre, three hotels, an anaerobic digestion plant and an energy centre. This, first-phase scheme, has a gross development value in the region of £300m and once financing and contractor discussions are concluded, we hope to start building out midway through 2016.”
The property group, which can be traced back to Heeley in Sheffield in 1886, is now being run by a non-family member for the first time, after former finance director John Sutcliffe officially became chief executive on January 1.
The group will release its 2015 preliminary results on March 24.
Click here to sign up to receive our new South West business news...
