Henry Boot upbeat about the future

CONSTRUCTION group Henry Boot said that profitable development opportunities are now beginning to emerge and it hopes to reinvest in them during 2011 and 2012.

The Sheffield-based firm, which promotes land for housing through the planning process before selling it to housebuilders, said that as the economic recovery gathers momentum, the group will capitalise on its store of assets.

It believes these assets are capable of generating "excellent returns" as markets improve and therefore the group is optimistic about its future prospects.

In a trading update yesterday Henry Boot said its financial performance has remained in line with expectations.

Revenues are expected to be around 128m for the year to December 31 with underlying trading profit in line with expectations.

It added that property valuations are expected to be largely unchanged since June last year as investment values have been relatively stable.