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Henry Boot profit 'slightly ahead' of expectations in H1; cuts dividend

By BFN News | 07:59 AM | Monday 24 August, 2020


Property investment and development company Henry Boot cut its dividend and reported a fall in first-half profit that was slightly ahead of its revised expectations owing to the performance of its land promotion business. For the six months ended 30 June 2020, pre-tax profit fell to a better-than-feared $7.2m from $24.1m on-year, and revenue slipped to £108.7m from £189.0m on-year. Operations were impacted by the Covid-19 pandemic, though the performance of its land promotion business, which saw revenue improve 7.7%, helped soften the blow. The company declared an interim dividend of 2.2p, down from 3.7p a share. 'We are prepared for uncertain times ahead but where we see good opportunities to invest, without taking undue risk, we will continue to take them,' the company said. Story provided by StockMarketWire.com

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