Henry Boot Plc reports good results

Property development group Henry Boot today said it had increased trading profits by 53% thanks to land sales but the difficult market saw its pre-tax profits drop by 59%.

The Sheffield-based group, run by chief executive Jamie Boot, is focusing on the performance of its investment properties and construction arm which has a number of key public sector contracts. The key financial highlights include:

Turnover of £119.3 million (2007: £47.1 million)

Trading profits increased to £30.2 million (2007: £10.0 million)

Revaluation deficit on investment properties of £8.2 million (2007: revaluation surplus £13.0 million)

Profit before tax of £20.4 million (2007: £21.9 million)

Chairmain john reis Said of the results: "I am delighted to report on another good set of results for the half year to 30 June 2008 which have been achieved in what is acknowledged as the most difficult market the property industry has faced for many years. "

The group, which develops and invests in UK properties, said it would pay out a final dividend of 3.75 pence, making for a total of 5 pence for the year, unchanged from 2007.