**Summary**
Henry Boot PLC, a UK-based land promotion, property investment, and home building company, released a trading update for the year ended 31 December 2025. Despite global economic and political uncertainties, the company delivered a resilient performance, driven by strong demand for its high-quality residential land. Key highlights include
1. **Financial Performance**Full-year profits are expected to be in line with market expectations (ยฃ29.7m), supported by the sale of Henry Boot Construction (HBC) and strong land sales.
2. **Strategic Progress**
Accelerated planning applications for over 11,000 plots within Hallam Land.
Strengthened Stonebridge Homes (SBH) by increasing ownership and expanding its landbank.
Simplified the group through the sale of HBC, focusing on high-quality land and premium homes.
3. **Operational Updates**
Hallam Land achieved record residential plot sales (3,957 plots) and secured consent for 4,159 plots.
HBD completed schemes with a GDV of ยฃ119m and expanded its Industrial and Logistics (I&L) joint venture, Origin.
SBH faced softer trading conditions, completing 185 homes (<mark style="background-color:yellow">below</mark> target), but expanded its landbank to 2,572 plots.
4. **Outlook**
The company expects 2026 profit before tax to be significantly below market expectations (ยฃ33.6m) due to subdued transaction activity, macroeconomic uncertainty, and the expiry of the profitable Road Link contract.
Long-term prospects remain positive, supported by a strong pipeline, disciplined investment approach, and a focus on key markets (residential, industrial/logistics, and urban development).
Henry Boot remains well-positioned for medium-term growth, with a strong balance sheet and strategic focus on high-quality land and premium developments.
Below is the HTML table code comparing the financials and debt year-on-year for Henry Boot PLC based on the provided text:
### Explanation:
1. **Residential Plot Sales (Hallam Land)**: Increased from 2,661 plots in 2024 to 3,957 plots in 2025.
2. **Consented Plots (Hallam Land)**: Increased from 2,982 plots in 2024 to 4,159 plots in 2025.
3. **Homes Completed (Stonebridge Homes)**: Decreased from 270 homes in 2024 to 185 homes in 2025.
4. **Net Debt**: Increased from ยฃ62.7m in 2024 to ยฃ108m in 2025.
5. **Profit Before Tax (Market Consensus)**: Provided for 2025 as ยฃ29.7m, with no comparable figure for 2024.
6. **Expected Profit Before Tax (2026)**: Expected to be significantly below ยฃ33.6m, with no comparable figure for 2025. This table provides a clear comparison of key financials and debt metrics between 2024 and 2025, along with the expected outlook for 2026.