23rd Jan 2014 08:56
LONDON (Alliance News) - Property and construction company Henry Boot PLC Thursday said it expects pretax profit for the full year ended December 31, 2103 to be around 10% ahead of management expectations after concluding "certain land sales".
The company which constructs homes and retail buildings across the UK said despite completing these sales ahead of forecast, it remains comfortable with expectations for the year ending December 31, 2014.
In a pre-close trading update ahead of its full-year results, the South Yorkshire firm said revenue for the year ended at approximately GBP150 million with some GBP20 million related to one-off property sales. At the end of 2012, the group reported revenue of GBP103.1 million.
Henry Boot said its balance sheet remains robust with gearing at the year end of around 20%, compared with 12% in 2012, although the firm said the figure has "reduced in January 2014 after deferred payments for land sales were received as due."
The firm also said its land management, property development and construction businesses have strong opportunity portfolios for 2014.
The group will publish its full year results on March 27.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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