But firm says low gearing will help its performance, as it reduces debt by 拢10m

Property and construction firm Henry Boot has said it is 鈥渃autious鈥� 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 鈥減atchy鈥� recovery in the commercial property sector but said its low gearing level would help its performance. The 拢117m-turnover firm has reduced debt levels by about 拢10m since December 2009 to about 拢23m.

It said: 鈥淚f 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.鈥�

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