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Download the PDF of the Full Annual Report
Download the PDF of the Overview
Download the PDF of the Strategic Report
Download the PDF of the Governance
Download the PDF of the Financial Statements
Download the PDF of the Shareholder Information
Download the PDF of the Notice of Annual General Meeting
Henry Boot PLC
The Henry Boot Way
We have been in business for over 130 years and our financial results and performance have always been, and will continue to be, dependent on our people.
We often use the phrase ‘The Henry Boot Way’ to explain how we work and to describe what’s expected of us and others. We started the ‘One Henry Boot’ Project so we could capture what ‘The Henry Boot Way’ is about. We have defined three core elements of ‘The Henry Boot Way’: Our Purpose, Our Vision and Our Values.
Our Purpose
To empower and develop our people to create long-term value and sustainable growth for our stakeholders.*
Our Vision
Our people, partners and communities continue to trust our reputation, respect our expertise and value us for our forward-thinking approach.
Our stakeholders are our shareholders, employees, pensioners, customers and suppliers. More broadly, we recognise our duties to the environment and the communities in which we operate.
Our Values
Download the PDF of The Henry Boot Way
Download the PDF of The One Henry Boot Project
2017 Highlights
Profit before tax
£55.4m
Net debt
£29.0m
Operating profit
£56.2m
Net asset value per ordinary share
203p
Earnings per ordinary share
32.1p
Dividends per ordinary share
8.00p
- Record financial performance in the Group’s entire 132-year history achieved for 2017.
- Strategic land portfolio now 13,273 acres with 18,529 units permissioned and 7,892 units in planning process.
- York Chocolate Factory scheme delivered in 18 months, ahead of our three-year estimation.
- £333m Aberdeen scheme progressing well, estimated completion is mid-2019.
- Delivery of the £35m Better Barnsley town centre regeneration scheme, now known as The Glass Works, continues to progress well.
- Stonebridge Homes increased their house sale total to 79.
- During 2017 Banner Plant acquired Premier Plant Tool Hire & Sales Limited in Leicester, which added a plant and a tool hire depot to its operations.
- The ‘One Henry Boot’ Project delivered a refreshed Purpose, Vision and Values to the Group, with a clearer understanding of ‘The Henry Boot Way’, our culture.
Download the PDF of the Financial Review
Chairman's Statement
We recognise that our people play, and will continue to play, a crucial role in our business success.
Jamie Boot
Chairman
Download the PDF of the Chairman's Statement
Group at a Glance
Established in 1886, we are one of the UK’s leading land promotion, property investment and development, and construction companies. The strength of the business and our consistent growth is achieved through our Group structure and diverse business segments.
Download the PDF of Group at a Glance
Great Wilsey Park, Haverhill
In 2012 Hallam Land became involved in Great Wilsey Park, a 415-acre site that had been identified for strategic growth within St Edmundsbury’s Core Strategy. Before development proposals were considered, Local Plans such as Haverhill Vision 2031 were engaged with to ensure the area’s vision and framework were taken into consideration. A vital element of this plan was the creation of a sustainable community which would still provide the area with the necessary local infrastructure benefits alongside the new homes to be built. The site contains:
- 2,500 homes
- Two primary schools
- Two local centres
- Doctor’s surgery
- 12 acres allocated for expansion of the secondary school
- Care home
- 195 acres of open space
A new care home, approximately 195 acres of green infrastructure providing informal areas of open space, play areas, public rights of way, allotments, wetland areas and a country park were designed into the scheme for the enjoyment of both new and existing residents. These elements integrate with the proposed 2,500 new homes to create what will be a thriving new community on the edge of Haverhill. We are now in final discussions on the S106 agreement prior to permission being issued and the site is currently being marketed for sale.
Kampus, Manchester
Henry Boot Developments, in partnership with local developer Capital & Centric, was selected as preferred partner by Manchester Metropolitan University to acquire and redevelop their former 2.5-acre site located on Aytoun Street, close to Piccadilly Station in Manchester city centre. The site was considered particularly sensitive by both the University and City Council because of its size, prominence, location and the need to incorporate existing listed buildings on the site into any new redevelopment. We identified that the site had significant potential to create a new and innovative build-to-rent residential scheme of sufficient scale to create a new community, incorporating dedicated retail and leisure facilities offering unrivalled access to both the city centre and the city’s main transport hubs including the new HS2 station close by.
We secured planning permission and a US-based funding partner, and construction work on the £230m project commenced mid-2017. This work includes the conversion of the historic Minto & Turner listed warehouse and the retention of the original 11-storey university campus tower and we anticipate the last of the 540 apartments will complete during 2020. The scheme has been designed to complement and support the continued regeneration of the wider area and includes two new public squares with complementary retail and leisure uses.
Rudding Park Hotel, Harrogate
During spring 2017, Henry Boot Construction completed a £9m luxury state-of-the-art spa facility to recapture Harrogate’s historic heritage, by using natural spring water from within the grounds of the hotel. The project included the construction of a multi-level extension to the Grade I listed Rudding Park Hotel, situated within the historic Humphry Repton landscape.
The new spa features a 17-metre swimming pool, an indoor and outdoor hydrotherapy pool, a thermal room and ten treatment rooms, plus a restaurant and shop. The rooftop area of the spa includes an indoor–outdoor infinity pool with an iconic glass wall allowing guests to enjoy the outstanding parkland views surrounding the hotel. A feature roof garden forms an integral part of the scheme and preserves the integrity of the historic landscape.
The project was complex because of the hotel being a listed building, which meant close collaboration and coordination with key trades and partners. With a tight deadline, the project was delivered on time and to the exacting standard required.
Segmental Performance
Profit before tax
£55.4m
- Land Promotion 41.7%
- Property Investment and Development 47.3%
- Construction 18.0%
- Group Overheads/Eliminations (7.0)%
Group revenue
£408.5m
- Land Promotion 18.7%
- Property Investment and Development 61.4%
- Construction 21.9%
- Group Overheads/Eliminations (2.0)%
Total revenue
£76.2m
Profit before tax
£23.1m
Land bank (acres)
13,273
- Owned
- Option and Promotion Agreements
Plots with planning permission
18,529
No. of plots sold
2,169
Plots in planning process
7,892
Total revenue
£250.7m
Profit before tax
£26.2m
Rental income
£8.1m
No. of plots sold
(Stonebridge Homes Limited)
79
- Plots
- £m plot sales
Profit before tax
£10.0m
External revenue
£81.9m
Download the PDF of the Segmental Review
Business Model
Our ability to deliver long-term value for stakeholders is underpinned by our business model. Henry Boot operates across the whole property value chain. We acquire land without planning permission, obtain planning permission, develop sites and maintain an investment portfolio. Our people are at the heart of all that we achieve; we develop skilled employees who deliver profitable schemes with confidence.
Download the PDF of the Business Model