Henry Boot (BOOT) has started 2017 in very good shape, with land promotion, property investment and construction all performing well.
Assuming there are no adverse movements, it now expects to exceed previous profit estimates by a considerable margin. On the land promotion side, Hallam Land Management - where land is sold 'oven ready' to housebuilders - sales have already exceeded 900 units on seven sites, with a further two sites unconditionally exchanged and a further nine under discussion. Planning consent has also been secured on six sites for 1,965 units, and it now has 50 sites for sale comprising over 17,600 units.
On the property investment side, the remaining 76 of the original 163 apartments on the former Terry's chocolate factory in York are expected to be sold this year, while the plant hire business - Banner Plant - has completed the acquisition of Premier Plant Tool Hire & Sales in Leicester for £2.8m.
