Last checked at 23 Jan 2014 07:00
HENRY BOOT PLC
('Henry Boot' or 'the Group')
Pre-close Trading Update
The Board of Henry Boot issues the following trading update for the year ended 31 December 2013.
Revenues for the year ended 31 December 2013 were approximately £150m with some £20m related to one-off property sales.
Having concluded certain land sales late in December 2013, which had previously been expected to complete after the year end, we now anticipate that Group profit before tax will be approximately 10% ahead of management's expectations. Furthermore, despite completing these sales ahead of forecast, we remain comfortable with expectations for the year ending 31 December 2014.
The Group's balance sheet remains robust with gearing at the year end at approximately 20% (2012: 12%) though this has reduced in January 2014 after deferred payments for land sales were received as due.
Our land management, property development and construction businesses have strong opportunity portfolios for 2014 and we look forward to updating shareholders in more detail at the time of our 2013 full year results announcement on Thursday 27 March 2014.
For further information, please contact:
Henry Boot PLC
Jamie Boot, Group Managing Director
John Sutcliffe, Group Finance Director
Tel: 0114 255 5444
www.henryboot.co.uk
Garry Levin
Investec Bank plc
Tel: 020 7597 5000
Fiona Tooley
Tooleystreet Communications
Mobile: 07785 703523
Tel: 0121 309 0099