28th Aug 2015 07:22
LONDON (Alliance News) - Land and property investor and construction company Henry Boot PLC on Friday outlined major changes to its senior management team as it posted a rise in first half pretax profit and a hike to its interim dividend.
The company said Chairman John Brown will retire from the board at the end of this year, having completed nine years' service. At that time, Chief Executive Jamie Boot will retire and will replace Brown as non-executive chairman. He will then be replaced by John Sutcliffe, currently finance director, who will in turn by replaced by Darren Littlewood, who moves form group financial controller.
Henry Boot outlined the changes as it said its pretax profit for the six months to the end of June was up by 4.5% to GBP14.0 million from GBP13.4 million. Revenue for the group rose to GBP79.2 million from GBP65.8 million, driven by higher land sales and increased construction and plant hire sales.
The group said it will pay an interim dividend of 2.30 pence per share, up from 2.10p per share a year earlier.
"I am pleased to report that Henry Boot has performed very satisfactorily in the first half of 2015 trading in line with management expectations. All our businesses are trading well in their respective markets and economic operating conditions are currently favourable across the group," said Brown.
"Overall, given the strength of the investment market, our construction order book and subject to the completion of certain key transactions during the second half of 2015 and notably around the year end, trading for the year ending 31 December 2015 is expected to be in line with our expectations," Brown added.
Shares in Henry Boot were up 1.0% to 234.00 pence in early trade on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
BHY.L