Contractor issues upbeat trading statement ahead of preliminary results in March
Contractor Henry Boot has said it expects its forthcoming profit before tax results will be 鈥渃omfortably ahead鈥� of market expectations.
Issuing a trading update today (26 January), ahead of the group鈥檚 preliminary results, Henry Boot said its financial position was unchanged from last November, when it issued an interim management statement.
It said revenue for the year ended 31 December 2011 is expected to be around 拢113m.
鈥淭he property valuation is anticipated to be slightly below that of the June 2011 valuation reflecting slightly weaker market experience and a review of certain site values,鈥� the firm said in a statement.
鈥淲e are beginning to see profitable development opportunities emerging, and over 2012 and 2013 we will begin to invest in more development activity.鈥�
It added that its balance sheet 鈥渞emained robust鈥� and said it expected to have successfully concluded the renewal of its banking facilities for a further three years in February.
Henry Boot鈥檚 preliminary results are scheduled to be announced on Wednesday 28 March 2012.
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