Boot ends 2020 ahead of expectations

Aaron Morby 3 years ago
Share

Property and construction group Henry Boot ended last year on a higher after it delivered a better year than expected.

Roberts said that during 2020 operations generated significant levels of cash
Roberts said that during 2020 operations generated significant levels of cash

In a year-end trading statement this morning Boot said it ended the year materially ahead of the board’s revised expectations for 2020.

This was due primarily to land disposals and a resilient performance from the development, construction and house building businesses, in Henry Boot’s target industrial and residential markets.

Tim Roberts, chief executive officer, said: “Henry Boot has adjusted well to the unprecedented challenges that have faced everyone in 2020, but with a continued strong financial position, and engaged teams, we have managed the business to focus successfully on our key long term markets which are today, as relevant as ever.

“While the latest lockdown shows that significant uncertainties remain, with strong forward sales and a growing store of opportunities, we start the year in good shape.”

In the second half, Henry Boot Construction’s productivity increased on sites to 95% of planned activity with growing existing public sector work leading to a strong order book for 2021.

Its Glassworks scheme in Barnsley remains on time and budget and a £40m contract has been signed to deliver a BTR scheme, the Kangaroo Works, in the centre of Sheffield.

Banner Plant has also seen a similar increase in activity levels to 93%.

Roberts said Boot’s financial position remained strong, with a robust balance sheet and net cash of c.£27m (2019: £27m).

Latest news

Police ban mobile cranes from roads over Easter

Plant hire bosses livid as forces across the country extend abnormal load embargoes
7 hours ago

Director jailed for exposing workers to asbestos

Ten tonnes of asbestos insulating board stripped out by unqualified workers
11 hours ago

Site labour rates start rising again

Industry's biggest payroll firm says "it feels like things could be turning round"
15 hours ago

Council finds extra £33m for Buckinghamshire link road

South East Aylesbury Link Road costs soar by nearly 30% to £147m
15 hours ago

Quartet win £490m North West & Central railway works deal

Skanska, Kier, Octavius Infrastructure and Story Contracting bag major projects deal
15 hours ago

Unite Students plans first major mixed-use scheme

Developer's first mixed BTR and PBSA project to be built in Edinburgh
1 day ago

Galliford Try names new finance director

Rentokil's Kris Hampson joins contractor to replace Andrew Duxbury
16 hours ago

Council boss hits out at bat threat to £274m road job

Natural England could scupper scheme due to be built by Ferrovial
16 hours ago

Hydrogen-fuelled diggers to be allowed onto highways

Government to raise barrier to widespread use of hydrogen fuelled plant in construction
1 day ago

Plans in for £118m Government hub in Darlington

Work pencilled to start later this year on new home for 1,450 civil servants
1 day ago

New contractor highlights Henry Construction jobs on website

New firm lists jobs by failed contractor to show its experience
2 days ago

Contractors line up for £2.6bn Anglian Water AMP8 deal

Eight big names land places on pioneering @one Alliance
2 days ago

McAleer & Rushe bags first major later living project

Work to start this month on 167-flat Royal Tunbridge Wells project
2 days ago

Kier starts first all-electric prison houseblock job in Kent

Next-generation fully electric T60 prison houseblock to be built at HMP Elmley
2 days ago

Keepmoat sees better times ahead in housing market

Profits dip in 2023 despite construction of record number of new homes
2 days ago

Vistry signs partnership deals for 1,900 mixed tenure homes

West Sussex former airfield and Newmarket sites to break ground
2 days ago

Turnover at Wates tops £2bn for first time

Construction division exceeds £1bn turnover as average contract value hits record high of £48.3m
3 days ago

L&G looks to sell Cala Homes in exit from house building

Insurance giant reported to be preparing to offload 3,000 homes-a-year developer
3 days ago

Multiplex profit almost trebles as margin hits 5.5%

Revenue jumps 20% to £675m as big London scheme complete
3 days ago

TopHat puts plans to open huge Corby factory on hold

Advanced manufacturing facility was due to employ 1,000 people
3 days ago

Laing O’Rourke lands Calderdale hospital job

Enabling works to start by the end of this year at West Yorkshire site
3 days ago

Go-ahead for £475m Sunderland film and TV studios

Work to start this year on first phase Corwn Work studios
3 days ago

Willmott Dixon set for £20m Stockport Community Hub

Planning decision expected in June on Marple leisure and health clinic project
3 days ago

Police hunt for blundering dumper truck thief

Raider drove into a fence before getting stuck on a bank
3 days ago

Beattie Passive files administration notice

Passivhaus pioneer has been in business for more than ten years
4 days ago

McAlpine set for £50m space and tech centre

Northumbria Uni sign pre-con deal for new satellite research hub
4 days ago

VolkerFitzpatrick seals £34m Kent road viaduct

Work to start next year on Sturry Link Road near Canterbury
4 days ago

Eight win £600m Scottish civil engineering framework

Balfour, Farrans, Graham and Morgan Sindall win major works lot
4 days ago

Site engineer crushed to death by excavator

22-year-old victim died just months after graduating from university
5 days ago

NG Bailey fined £135,000 after hospital site death

Worker died after striking overhead beam while navigating a mobile elevating work platform
6 days ago

Contractor services