Henry Boot (BOOT)

Sector:

Real Estate

Index:

FTSE Small Cap

253.00p
   
  • Change Today:
      3.00p
  • 52 Week High: 342.00
  • 52 Week Low: 185.00
  • Currency: UK Pounds
  • Shares Issued: 133.17m
  • Volume: 48,065
  • Market Cap: £336.93m
  • RiskGrade: 118

Henry Boot upbeat after tough 2019

By Josh White

Date: Monday 20 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Construction and property development company Henry Boot reported "good" strategic progress for 2019 on Monday, against what it described as an uncertain political and economic background, reporting that it added to its future opportunity pipeline and invested further in its workforce during the period.
The London-listed form said overall group performance for the year ended 31 December was "marginally lower" than the board's original expectations, driven by the disposal of the majority of its retail investments during the second half, which reduced rental income.

However, those sales, together with other activities, meant the group ended 2019 in a "strategically strong" position, with higher-than-expected net cash of around £30m, swinging from net debt of £18m in 2018, and with several opportunities identified to re-invest in during 2020.

It said its Hallam Land Management business performed "exceptionally well", especially given that a large scheme which had been forecast to complete in 2019 did not reach a conclusion.

The board said that, as was typical of such large schemes, there was no certainty that it would conclude in the year ahead, although it had now been moved into its forecasts for 2020.

Its Henry Boot Developments (HBD) division successfully completed The Event Complex Aberdeen (TECA) - a £333m scheme for Aberdeen Council - which was delivered on time and on budget.

During the year, delivery of several strategic employment sites commenced, including Butterfields Business Park in Luton, Airport Business Park Southend and the International Advanced Manufacturing Park in Sunderland.

The company said the year-on-year property valuation for the rest of the portfolio was "slightly up" on 2018, with the group benefitting from valuation uplifts relating to investment property under construction completed in the year.

Trading at Henry Boot Construction held up well, the directors claimed, especially given the "much-publicised challenges" facing the construction market.

The group was entering 2020 with a strong committed order book, it claimed, with the added opportunity to capitalise on the small foothold it had established in the partnership homes market through the acquisition of Starfish Commercial.

"We had a good year making strategic progress through investing in both our people and our future pipeline, whilst growing net asset value," said chief executive officer Tim Roberts.

"Looking forward, we have made a good start to the year with a strong balance sheet and further opportunities to add to our property development pipeline and strategic land bank, plus a healthy construction order book."

Henry Boot said it would issue its preliminary results statement on 31 March.

At 0815 GMT, shares in Henry Boot were down 5.95% at 321.65p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Henry Boot Market Data

Currency UK Pounds
Share Price 253.00p
Change Today 3.00p
% Change 1.20 %
52 Week High 342.00
52 Week Low 185.00
Volume 48,065
Shares Issued 133.17m
Market Cap £336.93m
RiskGrade 118

Henry Boot Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
73.33% above the market average73.33% above the market average73.33% above the market average73.33% above the market average73.33% above the market average
70.91% above the sector average70.91% above the sector average70.91% above the sector average70.91% above the sector average70.91% above the sector average
Price Trend
32.47% above the market average32.47% above the market average32.47% above the market average32.47% above the market average32.47% above the market average
35.71% above the sector average35.71% above the sector average35.71% above the sector average35.71% above the sector average35.71% above the sector average
Income
66.57% above the market average66.57% above the market average66.57% above the market average66.57% above the market average66.57% above the market average
58.14% above the sector average58.14% above the sector average58.14% above the sector average58.14% above the sector average58.14% above the sector average
Growth
52.82% below the market average52.82% below the market average52.82% below the market average52.82% below the market average52.82% below the market average
14.81% below the sector average14.81% below the sector average14.81% below the sector average14.81% below the sector average14.81% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Henry Boot Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Jun-20 19-Sep-19
Paid 06-Jul-20 18-Oct-19
Amount 1.30p 3.70p

Trades for 29-May-2020

Time Volume / Share Price
16:35 210 @ 253.00p
16:16 773 @ 251.40p
15:18 900 @ 250.00p
14:25 6,787 @ 248.00p
13:21 1,225 @ 251.00p

Henry Boot Key Personnel

Chair Edward Jamie Boot
CEO Timothy Andrew Roberts

Top of Page