15th Jan 2016 08:40
LONDON (Alliance News) - Land and property investor and construction company Henry Boot PLC on Friday said its pretax profit for 2015 will be slightly ahead of market expectations following a busy end to the year on the deal front.
The group said it sold four strategic land site and four completed development properties towards the end of the year, pushing up its underlying profit to be ahead of market expectations.
In addition, the group said it has received draft year-end property valuation data and has made provisions on certain sites which have not been developed as quickly as anticipated.
Still, with the solid trading and deal completions offsetting the valuation trims, the group's pretax profit for the year to the end of December will slightly outpace the market view.
Henry Boot said it is now on site for the residential development of the Chocolate Factory in York, which had been owned by Terry's of chocolate orange fame. Henry Boot said expects to start selling units from the scheme imminently.
It also recently secured planning permission for its Aberdeen development, which will include a conference centre, three hotels, an anaerobic digestion plant and an energy centre.
The company will publish its final results for 2015 on March 25.
Henry Boot shares were up 2.3% to 223.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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