Henry Boot pre-tax profit to be ahead of market consensus

Property developer Henry Boot anticpates that group profit before tax will be 'comfortably ahead' of consensus market expectations.

Revenues for the year ended December 31st are expected to be around £113m.

The property valuation is anticipated to be slightly below that of the June 2011 valuation reflecting slightly weaker market experience and a review of certain site values.

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"We are beginning to see profitable development opportunities emerging, and over 2012 and 2013 we will begin to invest in more development activity," this firm said.

The group's balance sheet remains robust, with gearing at the year-end at around 2% (2010: 6%). The firm plans to conclude the renewal of its banking facilities for a further three years next month.

The share price rose 3.5% to 133.00p by 13:32.

NR