Property trading and development activity levels deemed to be “very encouraging”

Property developer Henry Boot has delivered an upbeat assessment of trading, which includes a prediction that its final results for 2017 will be “comfortably ahead” of expectations.

In a statement to shareholders at its AGM today the firm said property trading and development activity levels since the beginning of the year had been “very encouraging”, including work being done on the former Terry’s chocolate factory in York, while the UK election had not created the sort of uncertainty which might impact its operation.

Its Hallam Land Management business had seen transactions expecting to complete in 2017 progress as anticipated, with the UK’s major house builders reporting “slightly higher levels of activity and strong demand for new houses”.

A number of projects in its property investment and development arm, including the Aberdeen Exhibition and Conference Centre, were on track, while its construction business was expected to hit its targets.

The integration of Premier Plant Tool Hire & Sales in Leicester, acquired for £2.8m, was progressing well, Henry Boot said, and both the existing and new depots are trading in line with expectations, it added.