Henry Boot upbeat in tough markets

Property developer Henry Boot said it was on track to meet expectations in a market that was challenging but stable.

Property developer Henry Boot said it was on track to meet expectations in a market that was challenging but stable.

The firm said its operational management teams continued to be very busy bringing forward land, construction and development opportunities.

Its construction arm expects to marginally exceed budgeted turnover for 2012 despite depressed general activity and is hopeful of securing approximately 60% of budgeted turnover for 2013 by the end of 2012.

"Whilst this is in line with expectations in the current competitive construction market, we remain cautious regarding the availability of traditional construction work, at an acceptable margin," the firm warned.

Hallam Land, the company's strategic land promotion business, had a very successful period in terms of planning success, Boot said, giving it a record number of consented sites available for disposal.

"All of these sites are being, or are about to be marketed, and a number of them are already the subject of agreed terms," it said in a statement.

"In addition, we have large strategic sites at Bridgwater and Exeter where already consented land will be sold over a longer time frame."

As a result of land trading during the period the firm's strategic land portfolio increased to 9,069 acres.

Of this, 1,833 acres are owned, 3,513 acres are held under option and 3,723 acres are held under agency agreements.

Of this total acreage, 21.4% has either planning permissions or planning allocations.

The positive tone impressed investors who had pushed shares up 5.3% by 14:30.

Recommended

Director dealings w/e 5 August: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 5 August: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
9 Aug 2022
Britain’s most-bought shares w/e 5 August
Stocks and shares

Britain’s most-bought shares w/e 5 August

A look at Britain’s most-bought shares in the week ending 5 August, providing an insight into how investors are thinking and where opportunities may l…
9 Aug 2022
Where to find inflation-resistant stocks
Investment strategy

Where to find inflation-resistant stocks

Terry Smith’s latest update contains some valuable pointers for investors looking to protect against inflation.
8 Aug 2022
A low-risk way to beat inflation
Share tips

A low-risk way to beat inflation

Demand for care-home places is strong and the sector should be able to raise prices ahead of costs, says Max King.
8 Aug 2022

Most Popular

Are UK house prices finally heading for a crash?
House prices

Are UK house prices finally heading for a crash?

The latest house price figures show a fall of 0.1% in July. With interest rates rising, inflation hitting double figures and a recession on the cards,…
5 Aug 2022
Brace yourself for the return of rationing
Economy

Brace yourself for the return of rationing

Russia is turning off the cheap energy. That is already leading to belt-tightening, says Matthew Lynn. Who will suffer most, and which sectors will th…
5 Aug 2022
Fear of missing out – what should investors do now?
Investment strategy

Fear of missing out – what should investors do now?

Markets have rallied from their mid-June lows. But if you missed out, as most investors did, what should you do now? Max King explains.
8 Aug 2022