Styles & Wood expects revenue of £100m

Michael Hunt

Fit out firm Styles & Wood Group said it anticipates a return to profit this financial year.

In an interim management statement, covering the period from 1 July to 27 October this year, the company, which has an office in Altrincham, said: "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.

"Over recent weeks, the group has experienced some customer deferral of projects anticipated to be delivered in quarter four of 2010. Therefore revenue for the year ending 31 December 2010 is expected to be between £95m and £100m, with the improved margin experienced in first half of 2010 expected to be maintained in the second half of the year.

"The group continues to manage working capital carefully, and anticipates a cash inflow in the second half of the year."

Styles & Wood Group has provided fit out and refurbishment services for the Primark in Chester, as well as the Manchester studio of architects BDP and the Royal Bank of Scotland building in Spinningfields, Manchester.

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