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Henry Boot PLC on Tuesday said it was confident of meeting targets for 2025 with 80% of budgeted sales for the year already completed, exchanged or reserved. The Sheffield, England-based property development business said pretax profit more than doubled to £7.8 million in the half year to June 30 from £3.7 million the year prior, or to £6.5 million from £3.6 million on an underlying basis. Revenue jumped 19% to £126.4 million from £106.0 million, driven by land and property disposals. Henry Boot said 80% of budgeted sales for 2025 are completed, exchanged or reserved, with the balance either under offer or in detailed negotiations. Chief Executive Tim Roberts said operationally it had been a ‘solid’ first half, which was ‘no mean feat in uncertain markets’, while he also hailed ‘strong progress strategically’. ‘With 80% of budgeted sales achieved, we have confidence of meeting full-year expectations, and we also have conviction that there are clear opportunities within our high quality portfolio to hit our medium term growth and return targets,’ he added. Reflecting this confidence, Henry Boot increased the interim dividend by 5.2% to 3.24 pence per share from 3.08p a year ago. The firm said despite starting the year in an uncertain market environment, demand for its prime projects remains resilient, while it continues to make good strategic progress by increasing the focus on land promotion, property development and home building. In addition, Henry Boot announced the sale of Henry Boot Construction to PWS Construction Ltd, a management-led buyout team for £4.0 million. This is being funded by PWS via a vendor loan note issued by Henry Boot. The deal also provides for additional payments based on certain performance criteria. Henry Boot said the sale will simplify the group’s structure and investment case, and reduce the risk profile of the group. In 2024, HBC generated £49.7 million of revenue with an operating loss of £2.7 million. Shares in Henry Boot were up 0.1% at 220.25 pence each in London on Tuesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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