13th May 2014 09:36
LONDON (Alliance News) - Property investment and construction company Henry Boot PLC Tuesday said it remains confident for the full year, following a strong start to 2014, with its construction division making strides.
The company, which constructs homes and retail buildings across the UK, said its construction business carried a strong order book into 2014, and it is already building a 2015 order book. Henry Boot said that, although construction contract pricing is "still tight and some inflationary pressure is just beginning to feed through", the contracting opportunities available to it are at its highest level for several years.
In an update for 2014 to date, Henry Boot said its land development business has been boosted by the steady improvement in the housing market. During the period the firm completed five site sales covering 435 units, with values achieved as expected. As a result of these sales the land portfolio currently stands at 9,560 acres, marginally down compared with the end of 2013.
Planning approvals, including those minded to grant approvals, were achieved at nine sites for 1,040 housing units and 145 extra care plots during the the period.
Henry Boot said its property investment and development business also made a strong start to 2014.
The design and planning phase of a new 400,000 square foot exhibition and conference centre in partnership with Aberdeen City Council is progressing well, the firm said, with the initial scheme proposal out to public consultation ahead of the submission of a planning application.
In addition, construction work on Henry Boot's mixed-use leisure and office development in Deansgate, Manchester was completed early in 2014. Agreed terms for the final letting are expected to be exchanged soon.
Henry Boot shares were trading up 1.9% at 212.00 pence Tuesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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