2016 KEY HIGHLIGHTS
· Revenue increased 74% to £306.8m (2015: £176.2m)
· Profit before tax increased 22% to £39.5m (2015: £32.4m)
· Earnings per share increased 23% to 21.5p (2015: 17.5p)
· Proposed final dividend of 4.50p (2015: 3.80p), giving a total for the year of 7.00p (2015: 6.10p), a 15% increase
· Net asset value per share increased 5% to 177p (2015: 168p)
· Conservative gearing at 14% (2015: 18%), net debt £32.9m (2015: £38.9m)
· Strategic land acreage now 11,888 acres (2015: 11,061 acres)
Commenting on the results, Chairman, Jamie Boot said:
“I am delighted to report a 22% increase in profit before tax to £39.5m for the year ended 31 December 2016. Each of our three business segments performed well, notwithstanding the macroeconomic concerns after the EU referendum result, and we have built a strong pipeline of schemes to be delivered over 2017-2019.”
Commenting on the results, Chief Executive Officer, John Sutcliffe said:
“In my first business review since taking over as Chief Executive Officer on 1 January 2016, I am very pleased to report that Henry Boot PLC has delivered yet another strong operational performance, financial result and earnings per share growth of 23%. Our strategy and the Company organisation remains unchanged, as do the key metrics by which we manage and monitor our business segments. 2017 has started well in all our businesses and we confidently look forward to a year of further progress.”