Contractor says market is recovering but posts profit and revenue falls
Contractor Henry Boot has hailed a 鈥渘ascent recovery鈥� in the housing market, despite posting a drop in profit and revenue.
The firm鈥檚 pre-tax profit fell 14% to 拢13.9m for the financial year ending 31 December 2012, down from 拢16.1m the previous year. Revenue fell 10% to 拢103.1m from 拢114.6m.
But chairman John Brown said the firm had seen an 鈥渦pturn in the construction market during the first few months of 2013鈥�.
Chairman John Brown said: 鈥淲e have made a strong start to 2013 across all our businesses. Plant and construction activity is ahead of 2012.
鈥淲e have geared up our balance sheet to take advantage of the nascent recovery, investing in the business opportunities that will generate growing shareholder returns into the future.鈥�
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