Sheffield-based builder and developer Henry Boot said revenue and profit fell in the first half of the year, but said full-year results would be in line with expectations as the UK economy and house prices recover. 

The company said first half revenue fell 41% to £106 million, depressed by reduced levels of activity, while profit before tax fell to £3.7 million from £25 million a year ago. 

Tim Roberts, Chief Executive Officer, said: ‘During the first half of the year we have started to see an improvement in our markets and this together with our focus on prime land and development, plus premium homes has helped us to achieve relatively strong property sales.”

“The lower forward sales with which we started the year has affected our first half financial performance and as flagged at the time of our 2023 results, we expect 2024 to be heavily weighted towards the second half. With 81% of budgeted sales already completed, exchanged or reserved, we remain on track to perform in line with market expectations for the full year.”