Henry Boot is to furlough some of its employees, having now closed its sales centres and paused construction work on its sites outside of those vital to the NHS.
However, the firm said that it did not expect the employee levels within its strategic land promotion or property development businesses to be significantly affected.
The firm added that it was also forming plans to allow it to continue activity on its construction sites within the government’s guidance.
The outbreak of Covid-19 will “inevitably influence” its finances and trading performance, but as yet the group is not able to quantify that impact, and as a result it is suspending all its existing financial guidance for 2020.
Henry Boot had net cash of circa £48m at 1st April and a secured and undrawn facility of up to £75m.
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