In an update today, Henry Boot management said revenue for 2010 will be around £128m
Trading for the financial year, which ended 31 December 2010, has been in-line with management expectations, with revenue set to come in around £128m for the year - an increase of 10% on the £116.5m in sales the firm booked in 2009.
Management said today that there has been no material change in the group’s financial position since the issue of its interim management statement on 12 November 2010.
A statement released today said: “Property valuations are anticipated to be largely unchanged from 30 June 2010 as investment values have since been relatively stable.
“Having renewed our bank facilities in 2009 for three years, the group’s balance sheet remains robust, with gearing at the year-end of approximately 6% (2009: 18%).”
While the statement was relatively short on numbers, one positive comment pointed to the emergence of potential development opportunities.
It said: “In the short term, the board remains focused on maximising the returns from the group’s businesses whilst continuing to manage debt levels prudently.
“Selectively, profitable development opportunities are now beginning to emerge and over 2011 and 2012, we hope to begin to reinvest resources back into these areas of activity.”
The board is confident on the future prospects for the firm and expects to benefit as the economic recovery gathers momentum.
Henry Boot expects to release its preliminary results on Wednesday 23 March 2011.
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