Boot (henry) Share Discussion Threads

[essentialinvestor] 18/7/2022 14:04

Ok spec, I'm guessing you might have this right, just added 3,000 shares.


I try not to do personal stuff on here, but never understood why so many follow ST.

[spectoacc] 18/7/2022 13:59

I sold into the "Ramper Thommo" spike at I think about £3.15 (my own posts above may dispute that :) ), only to see it carry on to above £3.40. Agree it's surely decent value at £2.65.

Caveated by the obvious point there's screaming value everywhere atm (& some screaming value traps, as eg my DLG atests this morning). But eg PSN in the sector, or UKCM at 75p on a £1.11 March NAV (likely pushing £1.15 now). And those just two examples.

[daneswooddynamo] 18/7/2022 13:33

Picked a few up here this morning looks pretty oversold to me notwithstanding general sector weakness

[cwa1] 12/7/2022 11:03

12 July 2022

HENRY BOOT PLC

('Henry Boot' or 'the Group')

HENRY BOOT'S HBD, IN JOINT VENTURE WITH FACTORY , APPOINTED AS DEVELOPMENT PARTNER FOR CHELTENHAM'S GBP1 BILLION GOLDEN VALLEY

Henry Boot PLC announces that HBD X Factory, a joint venture between HBD, the Group's property investment and development business, and Factory, the international tech campus developer, has been formally appointed by Cheltenham Borough Council as the development partner to deliver the first phase of the GBP 1bn Golden Valley Development (GVD) in Cheltenham, Gloucestershire.

Located in the centre of the UK' s cyber community, the entire Golden Valley Development spans over 200 acres and will provide 3,700 new homes, almost 12,000 new jobs and 2 million sq ft of commercial space at the heart of a visionary integrated campus focused on cyber and digital innovation.

The first phase will be the delivery of a mixed-use community clustered around Factory's first project of scale in the UK, a 150,000 sq ft innovation space that will serve as the new National Cyber Innovation Centre.

HBD X Factory is currently progressing a variety of design options in advance of a public consultation programme, prior to submitting planning applications, including a masterplan framework for the site and detailed proposals for the Innovation Centre. Sustainability will be a key consideration for the project, which is targeting n et z ero carbon. Smart technology coupled with innovative design and modern methods of construction will minimise energy output and carbon impact across all elements of the project's development and subsequent operation. The ambitious project is playing a significant role in the UK Government's Levelling Up agenda, alongside its recently launched UK Cyber Strategy.

Tim Roberts, CEO of Henry Boot PLC, commented: " HBD 's ability to secure the development contract for this nationally significant project is testament to its track record in delivering large-scale, transformative regeneration schemes. HBD's pioneering joint venture with Factory provides an additional competitive edge, combining our exemplar sustainable construction techniques with Factory's technical expertise, presenting an exciting opportunity to deliver upon the JV's visionary ambitions and access the enormous potential of the UK's tech sector whilst supporting the Levelling Up agenda."

The HBD X Factory joint venture was established in August 2021 specifically to target developments in the UK tech sector. HBD X Factory will continue to explore new opportunities across the UK, including acquisitions and public/private partnerships with local authorities and other strategic landowners, as it targets large-scale, mixed-use districts and urban regeneration projects with a focus on innovation.

[jonut] 23/6/2022 08:27

Holding RNS 26052022

[cwa1] 22/6/2022 16:40

Hmmmmmmm. Gladman upping again. Hmmmm...



There seems to be nothing filed under previous holdings in his announcement, which there surely should be?

Also:-

[jurgenklopp] 26/5/2022 15:30

Gladman has upped his stake to 5.32% !!!

[cwa1] 26/5/2022 07:33

Yes, solid stuff...



Tim Roberts, Chief Executive Officer, commented:



"Henry Boot has enjoyed a very busy and successful start to the year, fuelled by robust demand across our three key markets: Industrial & Logistics, Residential and Urban Development. While the challenges of ongoing supply constraints, cost inflation and increasing economic uncertainty cannot be ignored, we believe we remain well placed for the rest of the year, with strong forward sales across all our business lines, a continued pipeline of opportunities for us to meet our strategic growth ambitions and, as ever, a robust financial position".



Henry Boot has made a strong start to the year and continue to trade in line with market expectations*. To date, the Group's performance has been supported by land disposals and property development completions, with all three key markets, Industrial & Logistics (I & L), Residential and Urban Development performing well. In addition, the Group continues to make good strategic progress towards the medium-term targets previously identified, leaving the business well placed to achieve its growth aspirations.

[this_is_me] 26/5/2022 07:30

Good update. It looks like the company will be more or less back to pre pandemic levels this year with prospects for next year already looking good.

[cwa1] 24/5/2022 17:16

Decent volume by BOOT's normal standards today

[jurgenklopp] 18/5/2022 10:04

Interesting new shareholder declaring his stake today.

David Gladman sold his property development business to Barratt earlier this year for £250 million and has now declared a 3% holding in BOOT.

[cwa1] 04/5/2022 07:41

HENRY BOOT PLC

('Henry Boot' or 'the Group')

HENRY BOOT COMPLETES SALE OF 2,170 RESIDENTIAL PLOTS, ENABLING DELIVERY OF NEW HOMES IN UNDERSUPPLIED OXFORDSHIRE AREA

Henry Boot PLC announces that its land promotion business, Hallam Land Management (HLM), has completed the sale of 2,170 residential plots in Didcot, Oxfordshire to national housebuilders Taylor Wimpey UK Ltd and Persimmon Homes Ltd, under a planning promotion agreement (PPA) on behalf of private landowners. The transaction represents a significant proportion of HLM's annual sales target of 3,500 plots, placing it on track to deliver against its medium-term growth strategy.

The 440-acre site is located on the western fringe of the town of Didcot in Oxfordshire, 10 miles south of the city of Oxford. HLM took control of just over half of the strategically located site in June 2013 and has since been actively promoting it in partnership with Taylor Wimpey and Persimmon, who controlled other parts of it. The three parties worked with the Local Planning Authority and Oxfordshire County Council to secure an allocation in the adopted Vale of White Horse Local Plan in December 2016, and subsequently secured outline Planning Permission for 4,254 plots in February 2022.

A broad range of additional community benefits have been incorporated into the site's planning, including community/local centres, primary schools, sports pitches, leisure facilities, 80 acres of open space alongside extensive green infrastructure and cycle networks. The scheme will also comprise nearly 1,500 (35%) affordable units, including essential Extra Care (assisted living) accommodation, a special education needs (SEN) school to meet the requirements of the locality and wider Oxfordshire area, and an extensive S106 package providing funds for healthcare, biodiversity, public transportation, a library, off-site sport and leisure facilities, as well as public artworks.

Tim Roberts, CEO of Henry Boot PLC, commented: "This major disposal demonstrates the robust demand for HLM's strategic land plots. Our team's industry leading expertise in resolving complex planning matters has enabled the delivery of this significant opportunity, whilst highlighting our capabilities in master planning to bring forward new homes, employment space, community facilities and open spaces in undersupplied areas of the UK. With this transaction, we have continued to make strong headway towards HLM's annual revenue and profit target, which stands at over 60% of our 2022 goal. We are also well on track to meet medium term growth objectives thanks to a strong housing market and HLM's continuously replenished land bank."

[cwa1] 24/3/2022 08:08

Also tipped by ST in the IC:-

Boot’s progress has not gone unnoticed since I suggested buying the shares last months, at 285p (my benchmark is the 300p opening offer price on publication day), having risen to 320p. It’s more than justified as Peel Hunt now predicts 33 per cent growth in earnings per share (EPS) to 27.9p in 2022 to support a 6.7p a share pay-out, implying the shares are rated on a modest forward price/earnings (PE) ratio of 11.4, offer a prospective dividend yield of 2.1 per cent and are priced on 1.2 times conservative book value. I maintain my sum-of-the-parts valuation of £639mn (479p a share), or 50 per cent above the current price. Buy.

[tole] 24/3/2022 07:34

The Times (Tempus share tips): HOLD National Express; BUY Henry Boot.https://www.thetimes.co.uk/article/coach-firm-must-leave-the-slow-lane-zvhbcpwg2Henry BootComplex operating models don't often play well with investors but this land promoter-come-housebuilder-come-industrial property developer has no plans to break up its multi-layered business. Why should it, asks Tim Roberts, chief executive. Henry Boot's total shareholder return in the past 20, 10 and 2 years has beaten the FTSE All-Share over each period.There is less risk from operating in more than one segment of the property market, too, he reckons. But performance is still more heavily linked to the fluctuating fortunes of the economy than companies operating in many other sectors, as the sharp underperformance of the index in the decade after the 2007 market crash and months after the Brexit referendum attest.Post-pandemic, that's been a boon. Pre-tax profit more than doubled last year. That prompted Numis, the brokerage, to raise its forecast for this year by 7 per cent to £47.5 million, from £35.1 million last year.The strength of the housing market benefits the business in two ways. First, via the average selling price it can achieve on the houses it builds and sells via its joint venture Stonebridge Homes brand, which 72 per cent pre-let or forward sold for this year. Like peers, the housebuilding business has suffered from planning delays, but an increase in land with planning permission means it has raised its completion target to 200 this year, from 120 last year. Second, its land promotion business, which sells oven-ready plots to housebuilders, benefits from a rise in the average gross profit per plot, which grew by a fifth last year.Housing demand and inflation could cool this year, but even if sales prices are running at a mid-single digit rate then that should be enough to offset the impact of rising costs, Roberts reckons. This year the impact of inflation should be net neutral, he thinks, with about 89 per cent of its development costs fixed. Ferocious demand for industrial and logistics assets - 75 per cent of its development pipeline - should also protect profit against rising inflation.Plans to put more cash into new developments this year could bring returns on capital close towards its 10 to 15 per cent target range.Advice BuyWhy Rising net asset value growth could drive further recovery in the shares

[buywell3] 23/3/2022 09:06

Not for long imo

Housebuilders nearly all dropping today as many other sectors rise

IMO fight this at your peril

Rising rates are coming --- again and again and again

The market is starting to price this in but imo are playing catchup with inflation heading to 8% plus and still rising

[daneswooddynamo] 23/3/2022 08:24

Decent statement and shares have moved to a new higher level. Probably consolidates around here imo for the moment

[rmillaree] 23/3/2022 07:28

Ticks al the right boxes this update.
Still decent additional hidden value in land bank
They have clear vision to get to 500 mill sales
Improving roi now close to target rates
Full order book construction
Increase in Stonebridge home sales targets are a bit of a game changer if they can get from 120 units last year too target of 500 pa - that may take some time though perhaps.
Outlook looks fine.
On.y slight negative is the difficulty getting planning permissions approved - probably all circumstances beyond their control.
Shoutout to the chairman going out on top after putting in decent stint of 40 years

[this_is_me] 23/3/2022 07:26

It all looks good to me.

[cwa1] 23/3/2022 07:11

Tim Roberts, Chief Executive Officer, commented:



"Strong demand within our three key markets of Industrial & Logistics, Residential and Urban Development has helped us to achieve a good set of results. By continued investment in our significant pipeline of opportunities and using our strong balance sheet, we have achieved material growth in the business and secured attractive returns for our shareholders. Whilst there are pressures facing the economy and the industry, particularly inflation and supply restrictions, we continue to manage these effectively. We have also made a very good start to the year, building on the strong momentum across the Group, with high levels of forward sales in land and housebuilding, further leasing of our developments and a full order book in construction."

10% increase in dividend, payable 1/6/22

[buywell3] 22/3/2022 21:25

The problem with a lot of construction companies is that they can take considerable time to complete

During this time material costs can rise unexpectedly and supply chain issues can add to problems and cause further delays

Clients can ask for different contract quotations at the time of tendering -- for example a fixed price contract or a cost plus uplift contract

Clients that saw the current troubles coming would imo have chosen fixed price contracts and would have scrutinized and dictated the small print clauses

-----------------------------------------------

What happens in America and what is happening in America will result in what happens in the UK --- if you do your research you will corroborate this fact


The number of USA houses that were for sale has just risen by over 13% in feb year on year

ie Supply is now accelerating as the wise yanks want to cash in their brick piles

USA house/condo sales have dropped year on year for the last consecutive 7 months in a row

ie Demand is weakening

Ref New Builds or Houses under construction in the USA --- unsold numbers are now at 2008 levels and up 70% year on year --- this coupled with massive increased costs due to raw building materials causing stalls in many new build projects

Many USA builders could go bust if these remain unsold

Supply of new builds grows as existing sales of old/ used houses stalls

Inflation in the USA is now at 40 year highs

The FED plans to do another 6 rate rises in 2022

The 30yr fixed mortgage rate stands at circa 4.4% now and is thus on track to hit 6% by the end of this year

Inflation is not going away and the FED wants it at 2% --- next month it will likely hit 9% and still rising



The USA property market is now in top end bubble territory and soon to pop

The UK property market follows the USA with a lag of 12 months

dyor

[cwa1] 22/3/2022 17:43

Fingers firmly crossed...

[rettah] 22/3/2022 16:40

That's a certainty:
"Henry Boot PLC, one of the UK's leading and long-standing property investment and development, land promotion and construction companies, will be announcing its results for the year ended 31 December 2021 on Wednesday 23 March 2022."

[george stobart] 22/3/2022 16:33

RNS tomorrow?