First-half figures from land developer and housebuilder Henry Boot (BHY) would have underwhelming but for the completion of two land sales and the exchange of contracts on three others, all on the last day of the accounting period following delays as a result of the general election.
IC TIP:
Buy
at
234p
On the land development side, which operates through Hallam Land and specialises in bringing land through the planning process, units sold were broadly flat. But turnover rose because a higher proportion of the sales related to land owned by the company rather than to land on which it acts as an agent for third parties. The company currently has 40 sites equating to 12,000 units, all with planning permission and available for sale.