Business
2019 Half-year Report
2019 Half-year Report.
About this update from Henry Boot Plc
[{"type":"text","content":"\n \nRNS Number : 9826J Boot(Henry) PLC 23 August 2019 \n\n23 August 2019\n \nHENRY BOOT PLC\n('Henry Boot', 'the Company' or 'the Group')\n \nUNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2019\n \nHenry Boot PLC, a company engaged in land promotion, property investment and development, and construction, announces its interim results for the period ended 30 June 2019. Ticker: BOOT.L: Main market premium listing: FTSE: construction & materials.\n \nHIGHLIGHTS\n \n\n\n\n\n \n\n\n \n\n\n30 June\n2019\n\n\n30 June\n2018\n\n\n% \nchange\n\n\n\n\n· \n\n\nProfit before tax\n\n\n£24.1m\n\n\n£26.2m\n\n\n-8.0%\n\n\n\n\n· \n\n\nOperating profit\n\n\n£24.7m\n\n\n£26.4m\n\n\n-6.4%\n\n\n\n\n· \n\n\nEarnings per share\n\n\n14.2p\n\n\n15.7p\n\n\n-9.6%\n\n\n\n\n· \n\n\nInterim dividend\n\n\n3.70p\n\n\n3.20p\n\n\n+15.6%\n\n\n\n\n· \n\n\nNet debt\n\n\n£50.3m\n\n\n£26.0m\n\n\n+93.5%\n\n\n\n\n· \n\n\nNet asset value per share\n\n\n233p\n\n\n217p\n\n\n+7.4%\n\n\n\n\n \nCommenting on the results, Chief Executive John Sutcliffe said:\n \n\"Once again, we are very pleased to report on another period of successful trading. A deal-driven business, such as Henry Boot, always shows a degree of variability in profits and to have achieved over £24m in profit before tax, given the uncertainties affecting the UK economy, is a very resilient result.\n \nTrading conditions in the first half have remained consistent with 2018 and all business streams performed well as we continued to deliver a significant number of high quality land, housing and commercial development opportunities. Hallam Land, in particular, had a strong half year. \n \nAfter the period end, we completed and handed over The Event Complex Aberdeen (TECA), concluded on two investment property sales, exchanged contracts on a further two and acquired a majority shareholding in Starfish Commercial Limited, a small partnership homes contractor in the North of England.\n \nTrading in the second half has started well and we remain confident in meeting expectations for the full year, albeit some uncertainty remains regarding the UK's exit from th...