Henry Boot reaffirms outlook on 'resilient' trading

21st May 2026 11:17

(Sharecast News) - Henry Boot reiterated its full-year outlook on Thursday, despite a spike in political uncertainty, helping lift shares in the property developer.

Updating investors at its annual general meeting, the 140-year-old business said demand had proven resilient in the year to date.

Its housebuilding unit Hallam Land exchanged on 465 plots, with a further 2,181 under offer across five sites, although the firm acknowledged that transactions were taking longer to complete due to the current more uncertain environment. Its development arm HBD, meanwhile, had more than 231,000 sq ft of industrial space either let or under offer.

Henry Boot is also developing a £1bn innovation and technology hub called Golden Valley with Cheltenham Borough Council. The firm said detailed planning was secured for phase 1 in April, which included the 160,000 sq ft National Cyber Innovation Centre, alongside outline consent for 443 more homes.

Tim Roberts, chief executive, said: "Demand remains resilient for our high-quality, residential land, prime industrial developments and premium homes.

"While all our businesses made a good start to the year, in recent weeks we have seen early signs that conflict in the Middle East, together with increasing domestic political uncertainty, is affecting confidence levels.

"Buyers are generally more considered in their approach, and larger transactions in particular are taking longer to complete. We are also seeing some evidence of cost inflation driven by higher energy and build material prices."

However, looking to the full year and Henry Boot said that while it remained mindful of political events both at home and abroad, it remained on track to deliver annual pre-tax profits in line with consensus of £20.2m.

"A supportive planning environment continues to enable the submission of a significant volume of planning applications, further strengthening our pipeline of housing consents," it noted. "At the same time, strong occupier demand continues to underpin confidence in our development pipeline, which remains focused on delivering high‑quality I&L space."

As at 1030 BST, the shares were up 3% at 163p.

Jefferies, which has a 'buy' rating on the stock, said: "While macro risks persist, a strong pipeline, supportive planning environment and strong occupier demand position the group well for medium-term growth."

Henry Boot is due to publish results for the six months to June end on 22 September.

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