BusinessCompany NewsHenry Boot points finger at standards for downturn

Henry Boot points finger at standards for downturn

Property and construction group Henry Boot says IFRS is the reason for a drop in profits

Henry Boot, the property and construction company, said that a drop in
pre-tax profit from £8.87m to £7.72m for the first half was caused by IFRS.

The company, which despite the fall in pre-tax earnings reported an increase
in turnover from £26.4m to £42.4m, said that after restating its interims for
last year as required by IFRS, it had undertaken an unusually large revaluation
of its of its properties.

Henry Boot said the revaluation was the reason for the drop in reported
profits. The group’s shares rose by 11.5p to 590p.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4w Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

5m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

5m Alia Shoaib, Reporter
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

8m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

8m Emma Smith, Managing Editor
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

8m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

8m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

8m Emma Smith, Managing Editor