RNS Number : 1847W
26 January 2012
HENRY BOOT PLC
('Henry Boot' or 'the Group')
Pre-close Trading Update
The Board of Henry Boot issues the following trading update for the year ended 31 December 2011 ahead of the Group's Preliminary Results.
There has been no material change in the Group's financial position since the issue of the Interim Management Statement on 11 November 2011. We anticipate that Group profit before tax will be comfortably ahead of consensus market expectations.
Revenues for the year ended 31 December 2011 are expected to be around £113m. The 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. We are beginning to see profitable development opportunities emerging, and over 2012 and 2013 we will begin to invest in more development activity.
The Group's balance sheet remains robust, with gearing at the year-end at around 2% (2010: 6%). It is anticipated that we will have successfully concluded the renewal of our banking facilities for a further three years in February 2012.
We look forward to updating shareholders in more detail at the time of our Preliminary Results which are scheduled to be announced on Wednesday 28 March 2012.
For further information, please contact:
Henry Boot PLC
Jamie Boot, Group Managing Director
John Sutcliffe, Group Finance Director
Tel: 0114 255 5444
Investec Bank plc
Tel: 020 7597 5000
Citigate Dewe Rogerson
Mobile: 07785 703523
Tel: 0121 362 4009
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