Plant hire boosts Boot construction profits

Aaron Morby 7 years ago

A strong year at Henry Boot plant hire business helped to lift pre-tax profits at the construction division 10% to £10m.

The firm said construction workloads were on the rise supported by the general economic recovery, although it warned contract margins remained tight, which meant turnover only edged up to £88m.

Within the division, plant hire delivered its best year since 2008. Turnover for the year increased by over 9% to £12.1m with the net margin up 1.9% to 10.8%., helping to deliver a £1.3m profit.

Across the group pre-tax profits increased 54% to £28.3m as turnover slipped back to £147m.

Henry Boot trading divisons
2014 2013
Profit Turnover Profit Turnover
Construction £10.1m £88m £9m £82m
Land development £13.1m £39m £11.1m £38m
Property development £4.6m £26m £2.3m loss £37m

Chairman John Brown said: “Henry Boot enters 2015 in great shape, with a portfolio of high quality opportunities to deliver growing shareholder returns. The 2015 financial year has started positively.”

But he warned that The planning process was tightening ahead of the general election.

Boot experienced delays in obtaining planning permission on several projects, in particular at the former Terry’s Chocolate Factory in York, where heads of terms are agreed for the sale of one of the listed buildings to a care home operator and with a residential developer for the conversion of the main listed factory building into apartments.

The firm said it anticipated that the outstanding planning issues will be resolved in the first half of 2015.

Boot also suffered a setback on its 56 acre mixed-use development in Skipton, North Yorkshire, with the refusal of planning permission for a foodstore and employment scheme.

“However, negotiations with planners are continuing to agree an acceptable development plan which we expect to be residential and employment based,” said the firm.

Latest news

Greswolde Construction goes under

Solihull contractors ceases trading with 24 jobs lost
16 hours ago

Designs revealed for £1bn London Blackfriars tower blocks

Fosters design landmark green office skyscraper and two blocks of flats for Southwark site
1 day ago

Everton stadium job still on budget despite inflation

Club and Laing O'Rourke confident they can still build new ground for £500m
1 day ago

Construction output falls 1.4% halting 7-month growth spurt

Fresh output and orders figures confirm summer construction slowdown
1 day ago

McLaren gets green light for £85m build-to-rent scheme

Construction set to start this autumn on major city centre development
1 day ago

BAM limbers up for £25m Bedworth leisure centre

Pioneering Warwickshire health and fitness hub to start this autumn
1 day ago

Keepmoat to start four-year build in Wigan

Major regeneration scheme to start across four sites
1 day ago

Solihull contractor Greswolde heading for administration

New investors took over business 12 months ago
2 days ago

Duo win £500m canal and river main works deal

Kier and Bentley bag Canal & Rivers Trust's largest ever water engineering works deal
3 days ago

Construction Manager of the Year finalists revealed

70 of the industry's brightest talents: Full list
2 days ago

Willmott Dixon fills new strategic change director role

Vistry Group change director joins private builder to support future growth
2 days ago

Work starts on £42m Oldham Spindles overhaul

Willmott Dixon signs off £42m deal to create new market, offices and event space
2 days ago

Firms wanted for Telford & Wrekin £1.6bn building works DPS

Call up for dynamic purchasing system covering building and refurbishment work
2 days ago

Kier pulls off contracts league double in July

Contractor bags highest value of new work and tops rolling 12 months ranking
3 days ago

Hinkley Point C giant water intakes craned onto seabed

Video: contractors complete one of the world’s most complex marine engineering projects
3 days ago

Taziker revenue jumps 30% to record £73m

Multi-disciplinary engineering specialist boosts headcount to 366 staff
3 days ago

Consultant buys scaffolding contractor

RSK Group makes MG Scaffolding its latest acquisition
3 days ago

M&E specialist gears up for £16m Aston Martin package

Major package award on McLaren Silverstone site
3 days ago

Plans in for Brentford 110-flat canalside scheme

Makers’ Yard mixed commercial and residential use scheme
3 days ago

WSP to buy consultant RPS Group for £591m

5,000 staff at Oxfordshire based firm to join WSP
4 days ago

Countryside puts offsite factory up for sale

Offers invited for Bardon plant which is less than a year old
4 days ago

M&E specialist Spie UK arm returns to profit

French parent group launches a strategic review of UK operations after performance stabilises
4 days ago

Site boss fined for locking out safety inspectors

Police called to enter site before fire fighters rescue workers stranded on roof
4 days ago

Rebid starts for £200m M5 junction job

Cost inflation forces retender for £200m junction 10 rebuild near Cheltenham
4 days ago

New Downing Construction boss named

Andy Thomas takes top job as Ian Orton steps back after 24 years
4 days ago

Plans in for 600 homes at London Aylesbury estate

Notting Hill Genesis aims to start work next year on phase 2 of Southwark estate rebuild
4 days ago

Tide gets green light for UK’s tallest modular tower

Volumetric specialist to build 48-storey student skyscraper at Canary Wharf
6 days ago

TopHat cuts losses and aims for profit in three years

Modular specialist investing for future as latest results show £19.4m loss
5 days ago

Story Contracting names next chief executive

Andy Joy to be promoted to CEO as Jason Butterwork becomes vice chairman
5 days ago

Stalled £100m North London build-to-rent tower to start

Essential Living commits to start Swiss Cottage scheme six years after planning OK'd
6 days ago

Contractor services