Trading Update

RNS Number : 3836U

Boot(Henry) PLC

18 January 2017

 

HENRY BOOT PLC

('the Group')

Trading Update

The Board of Henry Boot PLC issues the following trading update for the year ended 31 December 2016 ahead of its full year results which will be announced on Friday, 24 March 2017.

December 2016 was, as expected, a busy month from a deal completion perspective. Certain land and property development deals completed in line with our expectations and the month also saw a total of 44 residential completions at our JV house builder, Stonebridge Projects, and The Chocolate Factory in York. In addition, construction work on the Aberdeen Exhibition and Conference Centre development is ahead of schedule resulting in marginally higher profit recognition for the year. We have also now received the draft investment property valuation data for our portfolio for 31 December 2016 which was as expected.

Taking the above into account, the Board now expects that profit before tax and earnings per share for the year ended 31 December 2016 will be slightly ahead of market expectations.

Furthermore, and notwithstanding the continuing macroeconomic concerns regarding the EU Referendum, the committed and contracted activity we already have in place means we start 2017 in an excellent position to achieve yet another year of further progress, delivering growth in long-term shareholder value.

We look forward to updating shareholders further on 24 March 2017 with our full year results announcement.

For further information, please contact:

Henry Boot PLC

John Sutcliffe, Chief Executive Officer

Darren Littlewood, Group Finance Director

Tel: [phone]

www.henryboot.co.uk

Garry Levin

Investec Bank plc

Tel: [phone]

Nick Lyon/Wendy Baker

Hudson Sandler LLP

Tel: [phone]

 

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