In a trading update for the 12 months to 31 December 2024, the housebuilder’s management remarked that though planning reform was positive for the market it would take time for this to come through in real terms.

With slower growth anticipated as a result, management is now expecting profits for 2025 to be similar to last year and heavily weighted towards the second half of the year.

Last year saw Henry Boot further invest in its housebuilding presence and it took full ownership of Stonebridge Homes through the acquisition of a 50% stake.

Elsewhere, Henry Boot’s Hallam Land business missed its residential land sale target for 2024 of 3,000 plots.

In 2024 the division sold 2,661 plots though this was higher than the 1,944 sold in 2023.

Hallam’s land bank also grew from 100,972 plots to 104,787 throughout 2024.

Such sales activity has helped reduce the group’s net debt position throughout the second half of 2024, from £103.9m to around £63m.

•   The Finance Professional Show 2023: The Video
•   Henry Boot completes sale of 365 residential plots
•   Feldberg and Henry Boot secure £54m for I&L platform

This has resulted in gearing remaining well within the stated optimal range of 10–20%.

Henry Boot Construction remained behind schedule for winning work and turnover was lower than targeted.

However, this division has started 2025 in a better position, with 55% of its order book secured and a further 16% at the preferred bidder stage or in legals.

Despite some setbacks, the firm’s management is bullish and CEO Tim Roberts (pictured above) has set out a new target of making planning applications for 10,000 plots in 2025.

“Looking forward, we have started 2025 with a bit more optimism, albeit while the reduction in interest rates provided a welcome boost to the economy, the trend downwards is now anticipated to be at a slightly slower pace than previously expected,” said Tim.

“The improvements to the planning system we have already seen under the new government also give us confidence, and we therefore intend to ramp up our planning applications, with a further 10,000 plots expected to be made in 2025.”