Boot ends 2020 ahead of expectations

Aaron Morby 11 months 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

HS2 launches first Midlands TBM

BBV launches Dorothy on first one-mile long bore in Warwickshire
3 days ago

Construction slavery gang busted – five convicted

Romanian victims were promised £50 a day to work on site but were saddled with false debts
3 days ago

New chief named for O’Connor Utilities group

Michael Hughes was formely chief financial officer at Issa brothers owned EG Group
2 days ago

Multiplex aims for woman-led teams at one in 10 projects

Social equity manifesto to tackle lack of female leadership, excessive hours and slow payments
2 days ago

Trio shortlisted for third £115m A9 dualling project

Balfour, Graham and Wills Bros in chase for 9.6km Tomatin to Moy dualling
3 days ago

Plan for £2bn Edinburgh West Town

7,000 homes plan for 200-acre site in West Edinburgh
3 days ago

Morgan Sindall starts £31m Leeds resi scheme

Work starts on 16-storey stepped Springwell Gardens apartment block
3 days ago

Race starts for £200m M5 Junction 10 Improvements

Cheltenham junction upgrade will see new roundabout built above the motorway
3 days ago

New boss at Balfour Beatty Kilpatrick

Will Smith joins from consultant Cummins
3 days ago

Contractors battle Storm Arwen to replace rail bridge

BAM Nuttall, Atkins WSP Joint Venture successfully completes marathon 78-hour installation
3 days ago

Bids called for £835m South London council estate upgrade

London Borough of Southwark is on the hunt for four firms to deliver housing estate upgrades
3 days ago

Willmott Dixon to build £21m net zero Preston school

Tarleton Academy will be net zero in operation
3 days ago

Veteran pair leave Currie & Brown

End of an era as David Broomer and Euan McEwan retire
3 days ago

Balfour Beatty launches neurodiverse site cabins

Cabins adapted for visually impaired and light-sensitive builders will become standard on Balfour sites
4 days ago

26 firms win £7bn schools framework – full list

B&K, Willmott Dixon, BAM, Kier and Wates chalk up both northern and southern major project lots
5 days ago

French specialist Matière to install HS2 cut and cover tunnels

Stanton Precast wins pre-cast segment deal for 'green tunnels'
5 days ago

Scottish house builder buys rival for £56m

Springfield buys Tulloch Homes to expand presence in the Highlands
4 days ago

Wates wins contract for underground houses

Construction to start next year on earth sheltered homes in Battle, East Sussex
5 days ago

VAT dodging electrician banned for five years

Company director barred after Insolvency Service probe
5 days ago

£11m in extra brownfield grants awarded – list

Twenty-three sites receive brownfield funding in second tranche of grants
5 days ago

GMI lands £30m helicopter logistic hub

Building work starts on Yeovil hub for manufacturer Leonardo
5 days ago

HS2 Euston team to get architect-designed site huts

Up to 2,500 workers and 150 students could be using the welfare facility on a daily basis
5 days ago

Firms readied for £1.3bn highways surfacing framework

Second supplier day to be held on 2 December ahead of March tender invite
5 days ago

Countryside Properties sets aside £41m for recladding

Progress made towards becoming 100% focused lower risk Partnerships business
5 days ago

BAM pairing takes £26m Sunderland train station

Demolition work will start next year on first phase southern entrance area
5 days ago

Osborne wins £21m London City grade II interior refurb

Work to start in the New Year on 84 Moorgate upgrade
6 days ago

Bouygues bags latest phase of Portobello Square regen

Construction to start next summer on North Kensington site
6 days ago

VolkerFitzpatrick wins £26m storage sheds deal

Firm has delivered several projects at the Daventry International Rail Terminal over 11 years
6 days ago

Massive Stewart Milne development goes into administration

Countesswells new town now in hands of administrators
1 week ago

Race starts for £2.5bn Ministry of Justice framework

Frameworks cover projects up to £30m and are divided into regional lots
6 days ago

Contractor services