Henry Boot’s small steps

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Construction group Henry Boot says trading conditions remain relatively stable, albeit subdued, but the year could be ahead of expectations due to higher than anticipated profits on land sales.

The Sheffield-based company says it does not expect any significant changes in conditions during the next 12 months.

But it is concerned that the European sovereign debt crisis could further weaken the ability of UK banks to provide funding for the UK property market.

Boot says it is currently operating using net cash and not using banking facilities of £50 million.