Henry Boot struck by building speed bumps
The ₤ 40m Kangaroo Works build-to-rent advancement in Sheffield finished in August 2023Henry Boot plc saw 5% profits development in the year to 31st December 2023 to ₤ 359m (2022: ₤ 341m) thanks to its land promo and home advancement activities however its building and construction department carried out listed below expectations, leading to a restructure of the department.
Group earnings before tax was ₤ 37.3 m (2022: ₤ 45.6 m), with a hidden revenue of ₤ 36.7 m (2022: ₤ 56.1 m).
Trading in the group's building and construction section was listed below expectations in 2023 as an outcome of weakening market conditions, accomplishing an operating revenue of ₤ 6.5 m (2022: ₤ 12.1 m).
Henry Boot Construction (HBC) saw turnover fall by a 3rd to ₤ 70.1 m (2022: ₤ 101.5 m).
2 of its bigges...