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Henry Boot PLC Annual Report and Financial Statements for the year ended 31 December 2015 www.henryboot.co.uk Stock Code: BHY Financial Statements Notes to the Financial Statements for the year ended 31 December 2015 1. Revenue Analysis of the Group’s revenue is as follows: Activity in the United Kingdom Revenue from construction contracts 60,763 65,819 Property development 37,079 11,736 Land development 46,572 38,894 PFI concession income 11,126 11,306 Plant and equipment hire 12,292 11,281 Investment property rental income 8,216 8,026 Other rental income 138 138 176,186 147,200 Other income 36 283 176,222 147,483 Contingent rents recognised as income during the year amount to £449,000 (2014: £498,000). Other income relates to payments received under a debt agreement with the Export Credit Guarantee Department arising from a long-completed contract that was not paid for at the time. 2. Segment information For the purpose of the Board making strategic decisions, the Group is currently organised into three operating segments: Property Investment and Development; Land Development; and Construction. Group overheads are not a reportable segment; however, information about them is considered by the Board in conjunction with the reportable segments. Operations are carried out entirely within the United Kingdom. Inter-segment sales are charged at prevailing market prices. Revenue for the year, and the prior year, was derived from a large number of customers and no single customer or group under common control contributed more than 10% of the Group’s revenues. The accounting policies of the reportable segments are the same as the Group’s Accounting Policies. The Group’s Principal Accounting Policies are described on pages 92 to 99. Segment profit represents the profit earned by each segment before tax and is consistent with the measure reported to the Group’s Board for the purpose of resource allocation and assessment of segment performance. Revenues from external sales are detailed in note 1. 2015 £’000 2014 £’000 100
Henry Boot PLC Annual Report and Financial Statements for the year ended 31 December 2015 www.henryboot.co.uk Stock Code: BHY 2. Segment information continued Revenue Property investment and development £’000 Land development £’000 Construction £’000 2015 Group overheads £’000 Eliminations £’000 External sales 49,939 46,706 79,541 — — 176,186 Inter-segment sales 320 — 11,076 643 (12,039) — Total revenue 50,259 46,706 90,617 643 (12,039) 176,186 Operating profit/(loss) 7,346 20,039 8,930 (4,649) — 31,666 Finance income 2,135 666 1,394 18,168 (20,925) 1,438 Finance costs (6,916) (1,637) (422) (3,391) 10,749 (1,617) Share of profit of joint ventures 923 — — — — 923 Profit/(loss) before tax 3,488 19,068 9,902 10,128 (10,176) 32,410 Tax (1,583) (3,864) (2,108) 98 (3) (7,460) Profit/(loss) for the year 1,905 15,204 7,794 10,226 (10,179) 24,950 Other information Capital additions 13,625 13 4,871 1,032 — 19,541 Depreciation 183 13 2,842 599 — 3,637 Impairment (10) — 203 — — 193 Amortisation 52 — 1,193 — — 1,245 Decrease in fair value of investment properties 2,009 — — — — 2,009 Provisions — 1,785 1,033 — — 2,818 Pension scheme credit — — — (2,579) — (2,579) Revenue Property investment and development £’000 Land development £’000 Construction £’000 2014 Group overheads £’000 Eliminations £’000 External sales 25,807 39,032 82,361 — — 147,200 Inter-segment sales 306 — 5,966 681 (6,953) — Total revenue 26,113 39,032 88,327 681 (6,953) 147,200 Operating profit/(loss) 8,740 14,100 9,232 (4,111) — 27,961 Finance income 1,487 511 1,419 15,808 (18,511) 714 Finance costs (6,800) (1,518) (536) (3,382) 10,686 (1,550) Share of profit of joint ventures 1,187 — — — — 1,187 Profit/(loss) before tax 4,614 13,093 10,115 8,315 (7,825) 28,312 Tax 254 (2,784) (2,122) (158) — (4,810) Profit/(loss) for the year 4,868 10,309 7,993 8,157 (7,825) 23,502 Other information Capital additions 16,083 18 4,274 745 — 21,120 Depreciation 129 16 2,583 571 — 3,299 Impairment — — 203 — — 203 Amortisation 94 — 1,155 — — 1,249 Increase in fair value of investment properties (1,950) — — — — (1,950) Provisions — 729 882 — — 1,611 Pension scheme credit — — — (2,375) — (2,375) Total £’000 Total £’000 Shareholder Information Financial Statements Governance Strategic Report Overview 101
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