Henry Boot PLC, a company engaged in land promotion, property investment and development, and construction, announces its results for the year ended 31 December 2018. Ticker: BOOT.L: Main market premium listing: FTSE: Construction & Materials.
2018 KEY HIGHLIGHTS
- Revenue of £397.1m (2017: £408.5m)
- Profit before tax of £48.6m (2017: £55.4m)
- Earnings per share of 28.3p (2017: 32.1p)
- Proposed final dividend of 5.80p (2017: 5.20p), giving a total for the year of 9.00p (2017: 8.00p), a 13% increase
- Net asset value per share increased 12% to 227p (2017: 203p)
- Net debt reduced to £18.4m (2017: £29.0m) with conservative gearing at 6% (2017: 11%),
- Strategic land acreage now 14,325 acres (2017: 13,273 acres)
Commenting on the results, Chairman, Jamie Boot said:
“The key strategic ethos of Henry Boot is to create long term value and sustainable growth for our stakeholders by financially empowering and commercially developing our people. In 2018 we continued this journey as we delivered yet another strong financial performance, while replenishing the longer-term property development opportunities within the business.
‘’We anticipate that 2019 will be a challenging year, as the UK real estate sector adapts to the marketplace following the UK’s decision to leave the EU. Nevertheless, I remain confident that we will achieve sector-leading results, despite the challenges we face, as we continue to build an extensive pipeline of opportunities in each of our businesses.”
Commenting on the results, Chief Executive Officer, John Sutcliffe said:
“We continue to take a long-term strategic approach to land promotion and property development while at the same time focusing on the delivery of the existing pipeline which should enable us to produce good results for the years ahead.
2019 has started well throughout the Group and will see us delivering significant schemes across the whole spectrum of our strategic land, property investment and development, housebuilding and construction businesses.’’
Click here to view the full 2018 Full Year Results Announcement
For further information, please contact:
Henry Boot PLC
John Sutcliffe, Chief Executive Officer
Darren Littlewood, Group Finance Director
Tel: 0114 255 5444
Investec Bank plc
Garry Levin/Carlton Nelson/David Anderson
Tel: 020 7597 5970
Hudson Sandler LLP
Nick Lyon/Wendy Baker
Tel: 020 7796 4133
