UK land developer Henry Boot's H1 revenue falls; says volumes to remain subdued for rest of 2026

Henry Boot

22/09/2026 07:09

Overview
UK land developer's H1 revenue fell yr/yr amid subdued market conditions
Company posted H1 loss before tax, compared to profit last year
No interim dividend declared to retain financial flexibility

Outlook
Company expects 2026 profit before tax in line with company-compiled market consensus of £9.7 mln
Henry Boot sees H2 2026 performance weighted towards land transactions, housing completions and leasing activity
Company says transaction volumes to remain subdued for rest of 2026

Result Drivers
SUBDUED TRANSACTION VOLUMES - Co said lower revenue and profit reflected reduced land sales and property development activity due to challenging market conditions
LOWER LAND SALES - Land promotion revenue decreased 67% as plot sales fell, with home builders moderating acquisition activity
COST INFLATION AND SLOWER SALES - Home building segment posted operating loss due to slower sales, build cost inflation and site extension costs

Company press release: ID:nRSV6709Va

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
GBP 80.7 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate rental, development & operations peer group is "buy"
Wall Street's median 12-month price target for Henry Boot PLC is GBp209.50, about 49.1% above its September 21 closing price of GBp140.50
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)