12 April 2017
 
 
 
HENRY BOOT PLC
 
('Henry Boot', 'the Company' or 'the Group')
 
Notice of TIDM Change
 
Henry Boot PLC, a company engaged in land promotion, property investment and development, and construction, announces that its Tradable Instrument Display Mnemonic ("TIDM") will be changed to "BOOT.L" (from "BHY.L") with effect from 08.00 tomorrow, Thursday 13 April 2017.

Old BHY ticker Henry boot thread.






Henry Boot PLC, established over 130 years ago, is the parent company of the Sheffield-based Henry Boot Group of Companies, and is one of the UK's leading and long-standing property investment and development, land promotion and construction companies.
Our successful group operations encompass: 
Land Promotion
Hallam Land Management Limited
Property Investment & Development
Henry Boot Developments Limited
Stonebridge Projects Limited
Construction 
Henry Boot Construction Limited
Banner Plant Limited
Road Link (A69) Limited

The motley fool today - Shares in Henry Boot (LSE: BOOT) perked up 9% in early trading Friday, in response to an upgrading of the company’s outlook for the full year.
The Sheffield-based land development, property investment, and construction firm had already lifted its targets back in May, but now tells us it anticipates 2017 performance to be “materially ahead of the board’s existing expectations.“
In these times when we seem to be getting profit warnings almost every day, this is a welcome change.
Saying that “2017 has proved to be an outstanding year where almost every deal we hoped to complete has done so,” the company told us that trading has been strong across its range of businesses, and that accelerated completions and deliveries in the second half lie behind the day’s good news.
Some projects previously scheduled for next year will be brought forward now and some may be completed before year-end, so the firm is cautiously leaving its 2018 expectations unchanged. But with presumably free capacity next year on the cards, I’d be hoping more work can be found to fill any gap.
Terrific record
Henry Boot shares are now up 150% over the past five years, to 330p, and it’s not hard to see why. Since 2012, earnings per share (EPS) have more than trebled from 7p to 21.5p last year. And over the same period the dividend has been lifted by 49% to 2016’s 7p — and that was three times covered by earnings.
The yield has remained fairly flat due to the rising share price, but effective yields based on buying price have accelerated nicely.
We’re looking at a forward P/E multiple of around 11 now, and that looks cheap to me.

A buy in this weeks IC, fill your boots.

Final Results
RNS
RNS Number : 6689I
Boot(Henry) PLC
23 March 2018

23 March 2018
HENRY BOOT PLC
('Henry Boot', 'the Company' or 'the Group')
UNAUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2017
Henry Boot PLC, a company engaged in land promotion, property investment and development, and construction, announces its results for the year ended 31 December 2017. Ticker: BOOT.L: Main market premium listing: FTSE: construction & materials.
2017 KEY HIGHLIGHTS
· Revenue increased 33% to £408.5m (2016: £306.8m)
· Profit before tax increased 40% to £55.4m (2016: £39.5m)
· Earnings per share increased 49% to 32.1p (2016: 21.5p)
· Proposed final dividend of 5.20p (2016: 4.50p), giving a total for the year of 8.00p (2016: 7.00p), a 14% increase
· Net asset value per share increased 15% to 203p (2016: 177p)
· Conservative gearing at 11% (2016: 14%), net debt £29.0m (2016: £32.9m)
· Strategic land acreage now 13,273 acres (2016: 11,888 acres)
Commenting on the results, Chairman, Jamie Boot said:
"I am very pleased to report revenue growth of 33% resulting in a 40% increase in profit before tax and a 49% increase in earnings. In addition, net assets per share exceeded 200p for the first time. Dividends increased by 14% and gearing reduced slightly compared with the previous year.
"We have made a good start to the 2018 financial year, having already concluded a number of land sales. In addition, we have a strong pipeline of construction work, commercial development projects and strategic land sites working through the marketing process, on which to capitalise through the year. Our focus consequently continues to be on the profitable delivery of these schemes and the value they will create for all our stakeholders. I look forward to reporting on our success in doing this through 2018 and beyond."
Commenting on the results, Chief Executive Officer, John Sutcliffe said:
"2017 delivered a record financial performance, primarily due to development schemes being delivered more quickly than we initially anticipated. As a result, profit before tax and earnings per share increased by 40% and 49% respectively, and we were able to more than replenish our portfolio of future opportunities during the year. Notwithstanding any potential impact from the decision to leave the EU, our business model and strategic aims remain unchanged, and 2018 has started well across all our business streams."

AGM Trading Update
RNS
RNS Number : 0935P
Boot(Henry) PLC
24 May 2018

24 May 2018


HENRY BOOT PLC
('Henry Boot', 'the Company' or 'the Group')

AGM TRADING UPDATE

Henry Boot PLC, a company engaged in land promotion, property investment and development, and construction, will hold its Annual General Meeting at 12.30 p.m. today at which the Chairman will make the following statement regarding current trading and the outlook for the current financial year.

Trading and outlook

The Group's land promotion and property investment and development business segments traded well during the first five months of this year. Despite the poor weather conditions experienced earlier this year, the financial performance of our construction and plant hire businesses remain in-line with our expectations. Hallam Land has a strong pipeline of sales opportunities which are expected to conclude in the remainder of 2018, although, and as is always the case, there is some uncertainty with regard to the timing of these deals within a particular financial period.

Given the good start we have made in 2018, and anticipating no major changes to the underlying UK economic conditions, we expect the Group's performance for the current financial year ending 31 December 2018 to be in-line with the Board's expectations.

KEY EVENTS IN THE PERIOD

LAND PROMOTION

Hallam Land Management, our strategic land business, has made a particularly solid start to the year, with the timing of transactions expected to complete this financial year currently ahead of expectation.

·
We have concluded land sales totalling over 1,841 plots on 12 sites. In addition, we have unconditionally exchanged on two further sites and are in detailed discussions regarding the sales of a further 15 schemes which are expected to complete later in 2018 and 2019.

·
We have recently obtained planning permission on a further two sites for 276 units and now have 47 sites for sale comprising over 16,770 units. We have 9,074 units on 33 sites which are currently subject to undetermined planning applications or are at appeal.

·
The total portfolio of land promotion sites is now 170 covering over 13,500 acres with a further 29 sites, over 2,000 acres, expected to be brought into the portfolio subject to the completion of due diligence and legal agreement.

PROPERTY INVESTMENT AND DEVELOPMENT

Henry Boot Developments continues to successfully deliver a number of schemes, whilst acquiring new opportunities for the future. The largest two schemes we are working on at present are:

·
The Aberdeen Exhibition and Conference Centre is now a little over halfway through its development programme and remains on course to be completed by mid-2019.

·
The forward funded 539 unit build to rent redevelopment of the former Manchester Metropolitan University Campus site in central Manchester is also progressing on programme, targeting delivery of the first phase of residential units in 2020.

·
The Company has also exchanged a number of new, long-term, joint venture agreements covering large business and industrial park development sites in Sunderland, Taunton, Enfield, Wakefield and Preston, totalling over 500 acres.

·
Our jointly owned house builder, Stonebridge Homes, is trading well and is targeting sales of over 120 units in 2018, up from 79 units in 2017. Reservations and sales to date are consistent with achieving this goal.

CONSTRUCTION AND PLANT HIRE

Our construction and plant hire businesses have been slightly affected by the poor weather conditions experienced in the first part of the year, but we have worked hard to ensure that the financial performance remains in-line with our expectations.

·
Our construction business continues to work across a wide range of sectors, including industrial, residential, custodial, health, commercial, education, leisure and civil engineering. We have made a slightly slow start to the year but, in 2018, we expect to achieve a similar level of activity to 2017. We are currently bidding for some larger contracts which, if successful, will underpin the 2019/2020 order books.

·
Our plant hire business, Banner Plant, reflecting slower UK construction activity in the first quarter of 2018, was slightly down on a 2017 like-for-like basis through the first quarter. However, the improved weather conditions have seen higher levels of activity and, at this stage of the year, we expect the business to achieve a similar result to 2017 for the full year.

·
Road Link (A69) Limited, our PFI contract was also impacted by the adverse winter weather, resulting in some incremental cost of repairing the road. This work has now concluded and the contract is trading in-line with previous years and management expectations.

Henry Boot profit up 16% despite flat revenue
StockMarketWire.com
Construction group Henry Boot booked a 16% rise in first-half profit after it improved margins amid flat revenue.

Pre-tax profit for the six months through June rose to £26.2m, even as revenue remained broadly steady at £196.2m.

Revenue growth was limited by lower land sales, while increased house-building sales were offset by lower commercial development revenues within the property investment and development segment.

Gross profit rose 5% as the mix of revenues generated slightly higher returns.

'We are very pleased to report another impressive performance in the first half of 2018, achieving improved profit, earnings per share, net asset value and dividends, while significantly reducing debt, compared to a year ago,' chief executive John Sutcliffe said.

'So long as market conditions remain stable as we transit through the political and economic uncertainties, we look to the future with confidence.'

'We have a strong pipeline of land, housing and commercial development opportunities to provide our customers with the property assets they require.'

'Trading in the second half of 2018 has started well, and given the level of forward contracted business, the board is confident in meeting its expectations for the full year and those for 2019 which, at this early stage, remain unchanged.'



At 1:33pm: (LON:BOOT) Henry Boot PLC share price was +11p at 281.5p

Trading Update
RNS
RNS Number : 4139N
Boot(Henry) PLC
18 January 2019

18 January 2019


HENRY BOOT PLC
('the Group')

TRADING UPDATE FOR THE YEAR ENDED 31 DECEMBER 2018


The Board of Henry Boot PLC issues the following trading update for the year ended 31 December 2018 ahead of its full year results which will be announced on Friday 22 March 2019.

Henry Boot's real estate focused activities traded in line with the Board's expectations for the year ended 31 December 2018, after including the "one-off" GMP pension provision noted below; without which we would have slightly exceeded expectations. This was despite trading conditions becoming more challenging through the year, as negotiations around the UK's departure from the EU served to increase the level of uncertainty within the UK real estate market.

Hallam Land Management performed exceptionally well, helping to replenish the UK house builders land banks following their house sales in 2018, and identifying new site opportunities to replace those sold. Stonebridge Homes, our jointly owned house builder, achieved 145 sales (2017: 79 sales), producing turnover of £35m. Activity within our construction segment held up well and Henry Boot Construction started this year with a strong committed order book and, in addition, is expected to agree a number of contracts in the first half of 2019, further increasing workloads. Banner Plant and Road Link A69 both performed in line with management expectations.

Henry Boot Developments' results were affected by the aforementioned macro uncertainty, with prospective developments held back by a combination of client uncertainty or planning delays, which affected the timing of starts on site at certain projects. The draft full year valuation of the Group's investment property portfolio was broadly neutral, unwinding gains seen at the half year, as increases in the value of the Group's logistics and industrial assets were offset by deficits on retail investments. Henry Boot Developments' largest development project, 'The Event Complex Aberdeen', continues to progress well and is expected to conclude mid-2019.

We anticipate that a provision of circa £1.5m will be included in profit before tax for the year ended 31 December 2018. This is as a result of the recent UK High Court ruling in respect of the Equalisation of Guaranteed Minimum Pensions handed down on 26 October 2018, and advice that any one-off charge should be taken to profit and loss, rather than through other comprehensive income (as with changes in the Pension Deficit).

The Group's balance sheet remains strong. Gearing at 31 December 2018 was circa 7%, as we position ourselves to be able to react to whatever challenges and opportunities arise through 2019.

Commenting on the positive trading result, John Sutcliffe, Chief Executive Officer, said:

"2018 proved to be another successful year for Henry Boot. It is always difficult to finalise deals or new developments in a specific financial period and, as noted above, three commercial developments anticipated to start during 2018 will now commence in 2019, and one sale expected to complete in 2018 completed on the 4th January 2019.

"Although we remain mindful of some uncertainty in the UK real estate market, these transactions, added to the already committed and contracted activity for 2019, give us a good start to the year."