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Henry Boot expects 41pc drop in turnover to £115m

Turnover at Henry Boot for the year ended 31 December 2009 is expected to drop 41 per cent to £115 million compared to 2008, the firm revealed today.

In a trading update ahead of Yorkshire-based Henry Boot’s full year results in March Henry Boot revealed the expected turnover figure which is below 2008’s £193.7 million and 2007’s £124.8 million.

The firm said that subject to audit, the disclosed trading profit is expected to be higher than underlying profit following the release of provisions that are no longer required within the construction division.

Henry Boot said its balance sheet remains robust with bank facilities having been renewed during 2009 for three years.

The firm said: “In the short term, we remain focused on maximising the returns from our businesses and continuing to manage debt levels prudently.

“In the longer term, we believe the group will benefit from its store of assets and opportunities that are capable of generating excellent returns as markets improve and we therefore remain optimistic about the group’s future prospects.”