Increase in pre-tax profits sees construction firm reach £26m

Growth | Property & Construction | Yorkshire

Henry BootConstruction group Henry Boot has announced its pre-tax profits have grown by more than 15% in its 2018 half-year results.

The Yorkshire-based firm posted a profit before tax of £26m for the six months ending 30 June 2018, up from almost £23m in the same period of 2017.

With revenue also increasing to £196m, up from £195m in the corresponding period.

Henry Boot 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.”

The group statement also said that the firm remains on course to meet activity and profit targets for 2018 despite uncertainty as a result of the political and economic conditions.

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