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Construction company Henry Boot said it expected its annual profit to be 'materially ahead' of current market expectations amid strength in industrial and logistics.
The current analyst consensus forecast for pre-tax profit in the year through December was £30.7 million.
'We've had a good year ahead of expectations, operating in strong markets and also making very encouraging progress against our recently declared medium-term strategic targets,' chief executive Tim Roberts said.
'Henry Boot has performed well in 2021 primarily due to an uplift in industrial & logistics capital values, both within completed retained developments and existing investments, alongside a strong performance from the strategic land business.'
'Looking ahead, Henry Boot enters 2022 in good shape, with a robust balance sheet, strong momentum within the group's operations and a healthy store of opportunities secured in its three key markets, leaving the group confident of further progress in the year.'
'Whilst market conditions remain supportive for the group to deliver its short and medium-term targets, Henry Boot continues to monitor the shortage of materials and labour in the UK construction industry, in addition to increasing build costs.'
'However, the business is currently managing these challenges effectively, with the added benefit of sales price increases.'