LONDON (ShareCast) - (Sharecast News) - Property and construction company Henry Boot posted a drop in interim profit and revenue on Friday but said the results were "very resilient" given the backdrop.
In the six months to the end of June, pre-tax profit fell 8% to £24.1m on revenue of £189m, down from £196.2m in the first half of last year.

Nevertheless, the interim dividend was boosted by 15.6% to 3.70p a share.

After the period end, Boot completed and handed over The Event Complex Aberdeen, concluded on two investment property sales, exchanged contracts on a further two and acquired a majority shareholding in Starfish Commercial Limited, a small partnership homes contractor in the North of England.

Outgoing chief executive John Sutcliffe said: "Once again, we are very pleased to report on another period of successful trading. A deal-driven business, such as Henry Boot, always shows a degree of variability in profits and to have achieved over £24m in profit before tax, given the uncertainties affecting the UK economy, is a very resilient result.

"Trading conditions in the first half have remained consistent with 2018 and all business streams performed well as we continued to deliver a significant number of high quality land, housing and commercial development opportunities. Hallam Land, in particular, had a strong half year."

The company said the second half has started well and it remains confident of meeting expectations for the full year, "albeit some uncertainty remains regarding the UK's exit from the EU and how this may affect future trading conditions".

At 090 BST, the shares were up 0.4% at 235p.

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