PROPERTY development group Henry Boot today said it had increased trading profits by 53% thanks to land sales but the difficult market saw its pre-tax profits drop by 59%.

The Sheffield-based group, run by chief executive Jamie Boot, is taking a prudent approach by reducing debt and focusing on the performance of its investment properties and construction arm which has a number of key public sector contracts.

The group has maintained its final dividend at 3.75p, giving a total dividend for the year of 5p.

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