Henry Boot’s newly appointed chief executive Tim Roberts said the business will look to public partnerships for opportunities post-coronavirus.
He said the company’s construction business has a bias to public sector investment, highlighting health, education and urban regeneration.
Roberts said: “We have a good record of serving public sector clients in key construction areas, and at a time when the government is looking to invest money in the regions, we stand ready to partner on key projects.”
In a trading update for the full year ended 31 December, the business said profit had been buoyed by strength in the land promotion business.
Pre-tax profit increased 1% to £49.1m. This was boosted by an 11% rise in land promotion profits to £31m and 1% growth in construction, offsetting an 18% fall in the property investment and development profits to £16.4m.
During the year revenue dropped by 4% to £379.7m, with a 13% decline in property investment and development revenue to £192.2m.
The land promotion business saw revenue fall by 2% to £73.2m, with construction rising by 14% to £114.3m.
Roberts said the business had entered the pandemic with a strong balance sheet, having disposed of most of its mixed-use retail assets during the year.
Going forward, he highlighted potential growth in beds and sheds, on top of public sector partnerships.
Roberts said: “Long term, we have extensive operational skills, which we believe will continue to provide valued services to customers in key markets such as residential, manufacturing and logistics and urban development.
“We also have a construction business with a bias to public sector investment in areas such as health, education and urban regeneration. These are all sustainable markets, so we also have a firm eye on the future success of the business.”
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