Final Results

Boot(Henry) PLC
17 April 2001


                                HENRY BOOT PLC


                       PRELIMINARY STATEMENT OF RESULTS

                    FOR THE YEAR ENDED 31ST DECEMBER 2000


Henry Boot PLC, the Sheffield based construction and property group, announces
its results for the year ended 31st December 2000.


                                  HIGHLIGHTS


                              TURNOVER UP 10.7%


                          PROFIT BEFORE TAX UP 9.0%


                         EARNINGS PER SHARE UP 12.5%


                        NET ASSETS PER SHARE UP 13.3%


                        John Reis, Chairman, comments:


   '...it is pleasing to be able to report further growth and a record 15th
                     successive year of increased profit'



'The New Homes business had a highly successful year with turnover up by 30%'



'The Property Development and Investment activities had an extremely good year
                     leading to another record result...'



                          ----------------------------



Enquiries: Jamie Boot, Group Managing Director - Tel: [phone]


                             CHAIRMAN'S STATEMENT



We have achieved a number of notable successes this year and it is pleasing to
be able to report further growth and a record 15th successive year of
increased profit.

TRADING SUMMARY

Turnover for the year advanced to £227m, itself a new record and over 10%
higher than 1999.   Most of this increment came from operations targeted for
expansion, namely our New Homes, Property Development and Land Management
operations.  This is a clear indication that the regionalisation programmes
embarked upon three years ago are having increasingly positive effects.



Operating profit grew in line with our expectation and at £12.5m compares
favourably with the previous year's figure of £11.5m.   After accounting for
net interest payable, profit before tax amounted to £12.2m (1999 £11.2m).
With a lower than usual tax charge of 27% and a reduced number of shares in
issue, earnings per share are reported at 36.0p, up 12.5% on last year's
comparative figure, a more than satisfactory outcome.



The New Homes business had a highly successful year with turnover up by 30%.
Now operating in six independent regions, completions reached 651 and the
average selling price increased to £96,136 (1999 £89,200).   A significant
number of new orders and a healthy land bank were carried over into 2001.
The greatest problem currently facing us lies in the planning process as
varied interpretations by different planning authorities on the Government's '
Planning Policy Guidance Note No.3: Housing' (PPG3) make the process unduly
complicated and lengthy.   At the same time, there is a skills shortage which
needs to be addressed by both the Government and the industry if housing
demands are to be met.  We remain confident, however, that our activity will
continue to grow and perform to expectations.



The Property Development and Investment activities had an extremely good year
leading to another record result with our expanding regional presence creating
greater market awareness and exciting new opportunities.   A number of major
schemes were completed and sold on which, together with projects currently
being undertaken, are mentioned in the forthcoming Annual Report's Review of
Operations.   Providing there is no dramatic fall in market demand generally,
our prospects look most encouraging for 2001 and beyond.



The Land Management operation has also been extremely active during the year
and, in response to changes made to the planning regime, directed much of its
attention towards brownfield and associated opportunities.   A number of
significant successes were achieved in terms of planning consents gained,
which not only assisted the group's housebuilding and property development
operations but contributed directly to the bottom line through external sales.
Land owned and controlled now totals 900 acres and 6,000 acres respectively,
placing us in a strong position as we extend the areas and concentrations of
our operations.



In Building and Civil Engineering, difficulties were encountered in our select
tender construction activities with margins on new work remaining extremely
tight.   We continue to make strenuous efforts to bring to a financial close
contracts where clients enjoy occupation of their completed projects.   We
remain committed to further developing our partnering and negotiated business
to satisfy the growing demand by clients for non-traditional procurement
routes.



The Specialist Construction activity had another successful year with improved
profitability.   Fee contracting activities continued to prosper and an
increased market share was achieved in facilities management and railtrack
renewal work.   In addition, despite the reduction in opportunities emanating
from a fragile retail sector, our fast track fitting-out operation continues
to secure sufficient work in this market to meet its targets for 2001.



Plant Hire experienced a more difficult year with downward pressure on hire
rates.   This, combined with a number of bad debts and restructuring costs
following the integration of Quicklift (UK) Limited, resulted in lower than
expected returns.   A substantial investment programme undertaken during the
year, including the establishment of the 'Quick Tool Hire' operation, should
see a return to healthy profitability in the current year.



The Training operation continued to increase its share of the private sector
and local authority training markets.   Our participation in the Construction
Apprenticeship Scheme remained on course as our flagship programme in helping
to address skill shortages and providing closer links with schools to
encourage careers in the construction industry.   As a major training service
provider, we look forward to working closely with the newly established
Learning and Skills Councils.



FINANCIAL POSITION, DIVIDENDS AND OUTLOOK

In consequence of the expansion of the housing, property and land activities,
and the implementation of the share buy-back programme, the group's gearing
position has moved significantly to 30% and remains in line with my comments
at the Interim stage.   Land held for housing, and developments in progress
have increased by £23.5m in the year.   Expenditure on share buy-backs
exceeded £1.6m, with a total of 764,000 shares being bought in and cancelled
at a discount of over 25% to present net asset value.



The benefits to shareholders resulting from these buy-backs can be seen in the
improved earnings and a net asset value of £2.90 per share.   These, I am
pleased to report, translate into tangible gains through a proposed final
dividend of 8.0p per share, bringing the total for the year to 11.0p, a 10%
increase over 1999.   As mentioned in my statement a year ago, further
weaknesses in the company's share price will continue to be exploited for the
benefit of shareholders.



The year 2001 has commenced on a strong note with us firmly positioned to take
full advantage of buoyant trading in our major markets.   The prospect of
further falling interest rates and the diverse spread of our operations should
see us achieve another successful year and increased growth, providing
customer confidence is not undermined by a slow down in the economy and the
uncertainty surrounding equity markets.




17th April 2001                    John S Reis



Summarised Group Profit & Loss Account
for the year ended 31st December 2000


                                                            2000           1999
                                                           £'000          £'000
Turnover - continuing operations
Group and share of associates                            226,787        204,810
Less: share of associates' turnover                        1,871              -
                                                                              
Group turnover                                           224,916        204,810

Operating profit                                          11,991         11,461
Share of operating profits of associates                     483              -
                                                             
Group operating profit                                    12,474         11,461
Investment Income                                           1971            141
Interest                                                   (290)          (370)
Interest - share of associates                             (143)              -
                                                           
Profit on ordinary activities before taxation             12,238         11,232
Tax on profit on ordinary activities                       3,332          3,146

Profit for the financial year after taxation               8,906          8,086

Dealt with as follows:

Dividends paid and proposed

        Cumulative preference shares
        (non-equity) 5.25% (1999:5.25%)                       21             21
        Ordinary shares 11.0p (1999:10.0p)                 2,717          2,502

Profit retained                                            6,168          5,563
                                                           8,906          8,086


Basic earnings per ordinary share                          36.0p          32.0p
                                                           
Diluted earnings per ordinary share                        34.7p          30.8p
                                                           

There were no discontinued operations.




Summarised Group Balance Sheet at 31st December 2000


                                                          2000             1999
                                                         £'000            £'000

Fixed assets                                            33,494           29,936

Current assets

Stocks                                                 107,833           84,292

Debtors                                                 21,221           21,496

Cash at bank and in hand                                    80            6,552

Creditors: amounts falling due within
one year                                              (70,543)         (71,319)

Net current assets                                      58,591           41,021

Total assets less current liabilities                   92,085           70,957

Creditors: amounts falling due after more
than one year                                         (15,933)          (1,847)

Provisions for liabilities and charges                 (2,134)          (1,852)

Net assets employed                                     74,018           67,258

Capital and reserves

Called up share capital                                  2,936            3,011

Capital redemption reserve                                 271              195

Share premium account                                    1,131            1,119

Property revaluation reserve                            11,732            9,680

Profit and loss account                                 57,422           52,729

Other reserves                                             526              524

Shareholders' funds                                     74,018           67,258

Being:

Non-equity shareholders' funds                             400              400

Equity shareholders' funds                              73,618           66,858
                                                        74,018           67,258



Group Statement of Total Recognised Gains and Losses
for the year ended 31st December 2000

                                                           2000            1999
                                                          £'000           £'000

Profit for the financial year                             8,906           8,086

Cost of own shares purchased                            (1,633)           (824)

Unrealised surplus on property revaluation                2,438             422

Elimination of revaluation surplus on transfer
of properties to stocks                                   (228)           (350)

Foreign currency translation differences                      2               -

Total recognised gains and losses for the year            9,485           7,334



Summarised Group Cash Flow Statement
for the year ended 31st December 2000

                                                           2000            1999
                                                          £'000           £'000

Net cash (outflow) inflow from operating                (8,000)           3,046
activities

Dividends received from associates                          599               -

Returns on investment and servicing of finance             (62)           (150)

Taxation                                                (2,529)         (2,305)

Capital expenditure and financial investment            (4,793)         (4,124)

Acquisitions                                              (810)         (1,713)

Equity dividends paid                                   (2,543)         (2,348)

Cash outflow before use of liquid
resources and financing                                (18,138)         (7,594)

Financing                                               (2,458)         (1,308)

Decrease in cash                                       (20,596)         (8,902)





Notes to Group Cash Flow Statement

                                                             2000          1999
                                                            £'000         £'000
Reconciliation of net cash flow to
movement in net funds

Decrease in cash                                         (20,596)       (8,902)

Loans and finance leases on acquisition of                      -       (1,864)
subsidiary                                                      

Cash outflow from decrease in lease financing                 853           498

New finance leases                                          (453)         (227)

Change in net debt in year                               (20,196)      (10,495)

Net debt at 31st December 1999                            (2,094)         8,401

Net debt at 31st December 2000                           (22,290)       (2,094)

Reconciliation of operating profit to
operating cash flow

Operating profit                                           11,991        11,461

Depreciation and amortisation                               4,828         3,115

Profit on sale of tangible fixed assets and                 (108)         (287)
investments

Increase in stocks                                       (23,536)      (12,393)

Decrease (increase) in debtors                                286       (7,355)

(Decrease) increase in creditors and provisions           (1,461)         8,505

Net cash (outflow) inflow from operating                  (8,000)         3,046
activities


Analysis of net debt
                                                                 
                                 At                   New Finance            At
                           31.12.99    Cash Flows          Leases      31.12.00
                              £'000         £'000           £'000         £'000

Cash at bank                  6,552       (6,472)                            80

Overdraft                   (7,053)           876               -       (6,177)
                                              
Increase in loans                 -      (15,000)               -      (15,000)
                                  
Decrease in cash                         (20,596)
                                         
Finance leases              (1,593)           853           (453)       (1,193)
                                              
                            (2,094)      (19,743)           (453)      (22,290)
                                         

Notes


1.      The financial information above has been extracted from the company's
statutory accounts for the years ended 31st December 1999 and 2000.  Statutory
accounts for the year ended 31st December 1999 have been delivered, and those
for the year ended 31st December 2000 will be delivered, to the Registrar of
Companies.  The auditors of the Company have given unqualified reports on
those accounts and such reports did not contain a statement under Section 237
(2) or (3) of the Companies Act 1985.


2.      At the Board meeting on 12th April 2001 the Directors formally
approved the issue of these statements.


3.      The financial information has been prepared using accounting policies
consistent with those adopted by the group in its accounts for the year ended
31st December 1999.


4.      The Annual Report 2000 is to be published and sent to shareholders on
24th April 2001.  Copies are available from The Company Secretary, Henry Boot
PLC, Banner Cross Hall, Sheffield S11 9PD.


5.      The Annual General Meeting of the Company is to be held at the
Sheffield Moat House, Chesterfield Road South, Sheffield S8 8BW on Friday 25th
May 2001 at 11.30 am.


6.      The final dividend will be paid on 1st June 2001, with a record date
of 27th April 2001.