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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 Performance Q You have a published aim to achieve and maintain a return on capital employed of between 10-13% as a benchmark of a successful business in the property sector. How have you progressed this year and do you see any factors that could affect this ongoing target? A A strong overall operating profit increase of 13.3%, helped in particular by our strategic land division, has generated a return on capital employed of 12.2% (2014: 11.4%). This higher return was achieved on a 5.6% higher level of capital employed as we build our business strength. Our return on capital employed is impacted by our profit margin and the rate at which we generate sales from our assets. We are continually looking at ways to reduce our cost base across all of our businesses and actively look to improve efficiencies through the use of new technologies and working practices. Margins remain highly competitive within the construction segment and the future price of both materials and labour has a large impact here. Within the land segment the speed at which assets can be disposed of is highly dependent upon the planning system and the appetite of the major house builders for new land, whilst the property segment is subject to the market demand for new property, the residential sales arena and the speed with which large and often complex development schemes can be brought to fruition. Darren Littlewood Group Finance Director 32
Henry Boot PLC Annual Report and Financial Statements for the year ended 31 December 2015 www.henryboot.co.uk Stock Code: BHY Achieving a return on capital in excess of 10% per annum Shareholder Information Financial Statements Governance Strategic Report Overview 33
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