Contractor issues upbeat trading statement ahead of preliminary results in March

Contractor Henry Boot has said it expects its forthcoming profit before tax results will be “comfortably ahead” of market expectations.

Issuing a trading update today (26 January), ahead of the group’s preliminary results, Henry Boot said its financial position was unchanged from last November, when it issued an interim management statement.

It said revenue for the year ended 31 December 2011 is 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,” the firm said in a statement.

“We are beginning to see profitable development opportunities emerging, and over 2012 and 2013 we will begin to invest in more development activity.”

It added that its balance sheet “remained robust” and said it expected to have successfully concluded the renewal of its banking facilities for a further three years in February.

Henry Boot’s preliminary results are scheduled to be announced on Wednesday 28 March 2012.