Construction division slightly ahead at Henry Boot

The lack of land sales resulted in a dip in half-year revenue and profits at property developer Henry Boot, but the group said it is picking up lots of good sites on the cheap.

The lack of land sales resulted in a dip in half-year revenue and profits at property developer Henry Boot, but the group said it is picking up lots of good sites on the cheap.

Profit before tax in the six months to the end of June fell to £5.8m from £9.1m the year before. The group enjoyed a £1.78m uplift from the increase in the fair value of investment properties, versus a £1.73m downwards adjustment last year. Despite this, trading profit, which is essentially operating profit plus adjustments for sales of assets and changes in the value of investment properties, more than halved to £4.1m from £11.0m.

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