Henry Boot turns to private clients

Grant Prior 11 years ago
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Henry Boot continued its switch to private sector construction clients during the first half of this year as public spending peters out.

The firm said: “We anticipate a further reduction in public sector opportunities following the Comprehensive Spending Review in October 2010 so we focused on continuing to increase our private sector client base.

“As part of this drive we have carried out building works for Symphony Kitchens, British Land, Veolia, Outokumpu, Betafence, Corus, Valbruna and for our sister company, Henry Boot Developments.”

The shift came as Henry Boot returned to a pre-tax profit of £9m for the six months to June 30 compared to a  £20.3m loss last time as turnover fell to £55m from £67m.

Construction turnover was steady at £43m delivering £3.5m in profit with group profit figures enhanced mainly by a better performance in the property arm.

Chairman John Reis said: “Whilst current trading remains reasonably robust, we are mindful that the well publicised spending cuts will have an impact on the level of work being put to the market as a whole.

“We are still seeing opportunities within both the private and public sectors, although it is anticipated that margins will have to be tight to win that work.

“In anticipation of this, we have acted quickly to reduce our cost base and are confident that we can trade through these anticipated challenges satisfactorily.”

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