Henry Boot PLC
LSE:BOOT
Henry Boot PLC
Henry Boot Plc engages in the business of property development, investment, and construction. The firm sources and acquires land; promotes planning consents; acquires, develops, manages or sells investment properties and service constructors with plant, and refurbishes and constructs buildings. Its segments include Property Investment and Development, which includes property investment, property development, housebuilding and trading activities; Land Development, which includes land management, development and trading activities; and Construction, which includes its PFI company, social housing and plant hire activities. Its subsidiaries include Banner Plant Limited, Buffergone Limited, Butterfield Quad Management Company Limited, Chocolate Works York Management Company Limited and Comstock (Kilmarnock) Ltd, Hallam Land Management Limited, Henry Boot Developments Limited, Stonebridge Projects Limited and Road Link (A69) Limited.
Henry Boot Plc engages in the business of property development, investment, and construction. The firm sources and acquires land; promotes planning consents; acquires, develops, manages or sells investment properties and service constructors with plant, and refurbishes and constructs buildings. Its segments include Property Investment and Development, which includes property investment, property development, housebuilding and trading activities; Land Development, which includes land management, development and trading activities; and Construction, which includes its PFI company, social housing and plant hire activities. Its subsidiaries include Banner Plant Limited, Buffergone Limited, Butterfield Quad Management Company Limited, Chocolate Works York Management Company Limited and Comstock (Kilmarnock) Ltd, Hallam Land Management Limited, Henry Boot Developments Limited, Stonebridge Projects Limited and Road Link (A69) Limited.
Strong Revenue Growth: Revenue rose 19% to £126 million, driven by significant land promotion and property development transactions.
Profitability Up: Gross profit increased 30% to £32 million with gross margin improving from 23% to 25%. Underlying profit jumped 79% to £6.5 million.
Dividend Increase: Interim dividend was raised by 5%, reflecting management’s confidence in current and future performance.
Land Sales & Pipeline: Hallam sold 1,222 plots, has over 2,300 more under offer, and is on track to exceed its 3,500 annual plot sales target.
Strong Planning Environment: Planning consents surged fourfold to 1,237 plots in H1, benefiting from changes to government policy.
Stonebridge Challenges: Stonebridge completed 85 homes in H1 and now targets 240–250 completions for the year due to slower trading and outlet delays.
Portfolio Optimization: Sale of Henry Boot Construction for £4 million will simplify the group, reduce risk, and sharpen focus on core activities.
Full-Year Confidence: Management expects to meet full-year earnings and sales targets, with 80% of budgeted land/property sales already completed, exchanged, or secured.
