20 Oct 2008 07:00
20 October 2008
Styles & Wood Group plc
"Styles & Wood" or the "Group"
Trading Update
Styles & Wood issues the following update on trading.
Revenue for the year ending 31 December 2008 is anticipated to be in line with expectations.
Management's assessment is that Group profit before taxation for the current year is likely to be around break even, largely as a result of a shortfall in margin relating to certain projects substantially completed by 31 December 2007.
With the exception of these historic projects, the Group is trading in line with expectations.
There will be minimal effect on future cash flow and net debt as the cash impact relating to these projects has already been absorbed.
ENQUIRIES:
Styles & Wood Group plc Tel 0161 926 6000
Ivan McKeever, Chief Executive Officer
Graham Clark, Group Finance Director
Investec Tel 0207 597 5000
Erik Anderson/Paul Gray
FD Tel 0207 831 3113
Billy Clegg/Georgina Bonham
END