Upbeat MD is confident of further profit rise in 2008

Henry Boot has announced a 14% rise in pre-tax profit to £46.5m for the year ended 31 December 2007.

Turnover dropped 12% from £142.3m to £124.8m as a result of fewer land transactions.

Construction contributed £77m to turnover and the property and land development business £48m.

Jamie Boot, group managing director, was upbeat about the results despite the worsening property market.

He said: “I'm reasonably comfortable with life at the moment. There are a number of opportunities coming through and profit in 2008 should be a shade ahead of last year.”

Boot said that there are no plans to reduce costs or negotiate discounts with suppliers as a result of the downturn and reiterated that the company is a long-term business.