BHY.L Share News (BHY)

Land developer Henry Boot said it has seen a continuation of improved trading conditions into 2010, but added that the recovery is modest and patchy.Cash generation and tight control of costs are the key concerns, the company said, adding that debts have been reduced by about £10m since the end of 2009 to £23m.Henry Boot said it is cautious about activities that rely on government funding, but added that it was seeing signs that the market for land, new development and completed investments is improving. The recovery is not yet well established though, the company said. 'We are, however, lowly geared and able to generate satisfactory returns in the current marketplace,' said the firm. 'If 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.'