Boot will beat profit prediction

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Construction group Henry Boot is predicting pre-tax profits comfortably ahead of market expectations.

The Sheffield company, which is due to announce its results for 2011 at the end of March, says revenues are expected to be around £113 million.

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

Boot says its balance sheet remains robust, with gearing down from six per cent in 2010 to around two per cent and it expects to have successfully concluded the renewal of its banking facilities for a further three years in February.

The group expects the value of its property holding to be slightly below what it was last June, because the market has weakened.

Boot says there has been no material change in its financial position since its interim management statement was issued in November.

n Which landmark Sheffield factory was built in the 1940s to withstand a 500lb bomb blast - but was destroyed by high explosive just two years ago?

Find out in the Business Monthly supplement in The Star on Wednesday.