Henry Boot (BOOT) 325p

Gain to date: 12.6%

Original entry point: Buy at 281p, 30 September 2021

There is never a dull moment at property, land and construction group Henry Boot (BOOT).

Having raised its full-year earnings guidance in January, the firm proceeded to trump expectations in March and said it was enjoying a strong start to the year.

In fact, the construction business had already covered its 2022 budgeted order book by March, and in last week’s trading update the firm said its Hallam Land business would also hit its target
for the year early thanks to the sale of plots to Taylor Wimpey (TW.) and Persimmon (PSN).

The development division has also made ‘a good start’ to the year with around three quarters of projects already either pre-let or pre-sold, and is bringing schemes forward from its development pipeline early to meet demand.

Meanwhile, Stonebridge Homes has secured 93% of its full year delivery target of 200 homes and the construction division is already taking orders for 2023.

Results are likely to be weighted towards the first half due to a number of ‘significant’ transactions, and, while the second half will still see high levels of activity, many of these deals will come to fruition next year due to longer lead times.

SHARES SAYS: Keep buying. 

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