By Christian Moess Laursen
Henry Boot expects its pretax profit for 2023 to meet current market forecasts after a resilient performance in the year driven by sales in its land-development business.
The London-listed construction and property-development company said Tuesday that it expects it pretax profit for the year to meet the current market forecasts of 37.2 million pounds ($47.3 million), based on a company-compiled consensus.
Activity in several key markets has fallen due to a slowing economy overall and higher interest rates, especially hitting sales rates in the housebuilding sector.
However, this was offset by continued demand in its land business for strategic sites planning in premium locations, with its land-development business performing ahead of expectations, it said.
Looking ahead, the company said it is well-positioned to benefit when end markets recover and it remains confident in the structural growth of these markets.
Henry Boot expects an on-year pretax profit decrease for 2024, missing current market consensus.
Write to Christian Moess Laursen at [email protected]
Corrections & Amplifications
This article was corrected at 0922 GMT to clarify that Henry Boot expects an on-year pretax profit decrease for 2024, missing current market consensus. An earlier article incorrectly said it expects it to be flat, in line with current market consensus.
Henry Boot expects an on-year pretax profit decrease for 2024, missing current market consensus. “Henry Boot’s Pretax Profit to Meet Market Forecasts Despite Tough Backdrop,” at 0735 GMT, incorrectly said it expects it to be flat, in line with current market consensus.
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