Henry Boot 'cautious' about public sector

Property and construction firm Henry Boot has said it is “cautious” about public sector work ahead of the expected cuts in expenditure by the new government.

In a trading update this morning, it talked of a “patchy” recovery in the commercial property sector but said its low gearing level would help its performance. The £117m-turnover firm has reduced debt levels by about £10m since December 2009 to about £23m.

It said: “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.”