Henry Boot cautious about Government spending

PROPERTY and construction firm Henry Boot said it continues to trade profitably and in line with expectations, but the group expressed caution about parts of the business which rely on Government spending.

By The Newsroom

Published 14th May 2010, 10:42 BST

The Sheffield-based company said recovery in the property market is patchy and conditions continue to be competitive.

In its favour the company said it is lowly geared and able to generate satisfactory returns in the current marketplace.

"If the economic recovery establishes itself more strongly over the remainder of 2010, we are confident that we will be well placed to benefit from the improvement in market conditions," Henry Boot said in a statement.

Net debt stood at around 23m on May 7, down by about 10m from December 31, the company said.

Shares of Henry Boot were trading up two per cent at 100p this morning.