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

By Reuters News


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:


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


Reuters Recommended Reads

  • Sept 20 - UK property asking prices rise for first time since May, Rightmove says

  • Sept 21 - UK's B90 Holdings H1 revenue rises 38%, net loss narrows

  • Sept 21 - UK's Elixirr H1 revenue rises 25%, aided by AI demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.