Henry Boot PLC

Henry Boot reported a weak first half, with revenue falling 19% to just under £81 million and the group posting an operating loss of £3.9 million. Net debt rose to £133 million and gearing increased to 33%, prompting the board to suspend the interim dividend pending improved sales, cash recovery and debt reduction. New chief executive Edward Hutchinson, who recently took the role after more than 20 years with the group, said a business review is under way and a refreshed strategy with medium-term objectives is due in early 2027, with priorities centered on unlocking value, reducing borrowings and improving operational efficiency. The company has completed, exchanged or reserved 71% of its budgeted full-year property sales, leaving a further £59 million needed to reach its £203 million target, and it expects a stronger second half as delayed land and property sales complete, though transaction volumes are likely to remain subdued. Housebuilder Stonebridge Homes is forecast to post an operating loss in 2026 amid slower sales rates, build-cost inflation of around 4% and higher mortgage rates, and Warren Thompson has been appointed as its managing director, expected to arrive later in the year.