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Property and construction firm Henry Boot beats Brexit gloom

Its performance would have exceeded guidance but for a one-off pension contribution

roof under construction
The company's house building arm turned over £35mln last year

Property and construction firm Henry Boot PLC (LON:BOOT) said it would have been on course to exceed guidance but for a one-off pension contribution.

Its performance came in the face of more challenging trading conditions as negotiations around the UK's departure from the EU “served to increase the level of uncertainty within the UK real estate market”.

The company said its Hallam Land Management business “performed exceptionally well”, Stonebridge Homes turned over £35mln and construction “held up well”.

Henry Boot Developments' results were affected by the aforementioned macro uncertainty.

That said boss John Sutcliffe was guardedly optimistic on prospects: "Although we remain mindful of some uncertainty in the UK real estate market, these transactions, added to the already committed and contracted activity for 2019, give us a good start to the year."

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