Management at Henry Boot (BOOT) almost sounded surprised when it announced, “almost every deal we hoped to complete in the year has done so”. This unprecedented level of productivity means that performance in the year to December 2017 is now going to be materially ahead of previous expectations. The shares leapt more than 8 per cent off the back of the announcement.
333p
It’s not only 2017 projects that have progressed with pace. Large industrial projects, including the Chocolate Factory in York, have been completed several months ahead of schedule, meaning sales are now going to be booked this year instead of next. The 2018 pipeline has also been filling up nicely, although management hesitated in updating longer-term forecasts for now.