22nd May 2025 14:30
(Alliance News) - Henry Boot PLC on Thursday said the start of the year was "encouraging" amid resilient demand for the company's prime property.
Sheffield, England-based property development, home building and construction company said it has seen positive changes since the UK government's revisions to the National Planning Policy Framework.
The company said it was on target to progress in a number of key transactions in land promotion and development.
Henry Boot said Hallam Land's annual plot sales are expected to be close to the medium target of 3,500 plots, which it noted reflected "continued stability" in the residential land market in the first quarter of 2025.
Further, in the past six months, Hallam has received approval for around 2,000 plots, with 1,007 plots granted permission this year, which brings the total number of plots with planning permission to 9,164. There are 14,344 plots awaiting determination.
Chief Executive Officer Tim Roberts said: "We have seen so far little evidence that the recent global economic uncertainty has shaken our key markets. Recent cuts in, and the outlook for, interest rates are expected to stimulate demand. We therefore remain on track, although as already stated, due to the timing of key transactions, we expect the year again to be H2 weighted."
Henry Boot said: "The group is supported by a rock-solid balance sheet with relatively low levels of debt. The markets in which we operate are driven by long-term structural trends, and with a store of high quality opportunities within our portfolio, the business is well positioned to deliver a full year performance in-line with market expectations and to achieve our strategic objectives over the medium term."
Henry Boot shares were 0.5% lower at 223.84 pence each on Thursday afternoon in London.
By Tom Budszus, Alliance News slot editor
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