Henry Boot Regulatory News (BOOT)

7 Jan 2008 07:00

Boot(Henry) PLC07 January 2008 Henry Boot PLC Trading Update The board of Henry Boot PLC ("the Group") issues the following update ahead ofthe publication of its preliminary results for the year ended 31 December 2007,to be announced on Wednesday 19 March 2008. Trading update Overall, against a tough trading environment, the Group has made solid progressduring 2007, performing in line with both management expectations and marketforecasts. We have continued to make significant investment in our property investment anddevelopment portfolio amounting to over £75m during the year, and anticipatethat the valuation surplus disclosed at the half year will be improved upon atthe full year. This investment has been achieved whilst maintaining prudent yearend gearing of around 40%. Strong demand for our quality residential developmentsites continued throughout the year and, at the year-end, Hallam Land retainedan interest in over 6,500 acres of land on over 170 sites throughout the UK, asimilar level to that at the end of 2006. The construction division also had agood year and carries a record order book into 2008. Looking forward, there is little doubt that confidence in the economicenvironment, and more specifically the real estate sector, has been affected bythe recent turbulence in the financial markets. However, we remain confident ofour ability to continue to build on our broad portfolio of property assets, andto make further progress in 2008. For further information, please contact: Henry Boot PLCJamie Boot, Group Managing DirectorJohn Sutcliffe, Group Finance DirectorTel: 0114 255 5444www.henryboot.co.uk Evolution Securities LimitedJoanne LakeTel: 0113 243 1619 Citigate Dewe RogersonFiona TooleyTel: 0121 455 8370Mobile: 07785 703523 This information is provided by RNS The company news service from the London Stock Exchange