19 May 2011 07:00
19 May 2011
Styles & Wood Group plc ("Styles & Wood" or the "Group")
Interim Management Statement
Styles & Wood Group plc, a leading UK provider of property support services to major retailers, banks and commercial organisations, makes the following statement on trading for the period from 1 January to 17 May 2011.
Trading conditions in the first four months of the year, whilst still challenging, were better than those experienced 12 months ago, particularly in the Retail Banking and Commercial sectors. Revenues in the 6 months to 30 June 2011 are expected to be ahead of prior year, and to deliver an improved outcome compared to 2010.
The order book continues to improve and at 17 May was more than 10% ahead of twelve months ago with strong order intake in Retail Banking and Support Services. Workloads in our Retail Division are at similar levels to 2010, with major projects currently being undertaken for Harrods and Selfridges.
Performance in our banking sector remains very good with several commendations received from major customers.
The Group continues to have a strong balance sheet and a sustained focus on cost control and cash management. In line with our strategy we continue to focus on profitable projects rather than market share.
-Ends-
ENQUIRIES:
Styles & Wood Group plc Tony Lenehan, Chief Executive Officer Philip Lanigan, Group Finance Director
| Tel 0161 926 6000 |
Shore Capital Pascal Keane/ Edward Mansfield
| Tel 0207 408 4090 |
Financial Dynamics Billy Clegg | Tel 0207 831 3113 |