Increase in value of investment properties accounted for over half of the £22m interim profit
Construction and property group Henry Boot has increased profit by 62% to £21.9m for the six months ended 30 June 2007.
The increase in the value of investment properties contributed £13m of profit with the first valuation of the Ayr Central Shopping accounting for most of the total.
A £2.1m fall in trading profits to £8.8m was blamed on the timing of land trading transactions.
In the construction, plant and PFI sectors Henry Boot said strong levels of activity in the South East was underpinning growth, and that work won on Decent Homes Refurbishment and Prison Alliance programmes would ensure medium term growth.
Chairman John Reis said: “The business has had a busy first half and achieved an excellent financial result, with further rewards expected during the second half.”