Henry Boot revenue up 33% to £408.5m

Sheffield-based construction group Henry Boot plc said its 2017 revenue increased 33% to £408.5 million and profit before tax increased 40% to £55.4 million

Proposed final dividend of 5.20p will give a total for the year of 8p, a 14% increase

Henry Boot CEO John Sutcliffe said: “2017 delivered a record financial performance, primarily due to development schemes being delivered more quickly than we initially anticipated.

“As a result, profit before tax and earnings per share increased by 40% and 49% respectively, and we were able to more than replenish our portfolio of future opportunities during the year.

“Notwithstanding any potential impact from the decision to leave the EU, our business model and strategic aims remain unchanged, and 2018 has started well across all our business streams.”

Henry Boot chairman Jamie Boot said: “We have made a good start to the 2018 financial year, having already concluded a number of land sales.

“In addition, we have a strong pipeline of construction work, commercial development projects and strategic land sites working through the marketing process, on which to capitalise through the year.”