Styles & Wood order book healthy for 2012

Altrincham-based retail fit-out specialist Styles & Wood painted a picture of stability in its interim management statement to the London Stock Exchange on Monday.

The company updated shareholders on trading during the period from 1 July to 11 November 2011.

The statement said: "Despite trading conditions in our markets remaining testing, the group has traded in line with management forecasts. Revenue and underlying profit before tax for the year ending 31 December 2011 are anticipated to be broadly in line with market expectations.

"Styles & Wood continues to maintain and develop its retail credentials undertaking several projects for high end retailers during the period under review while also making further progress to diversify into new markets in line with its strategy. As a result, turnover from the Banking, Commercial and Public Sectors will exceed 55% of Group revenues for the year ending 31 December 2011 (2010 – 51%).

"The group continues to have a strong balance sheet with positive cash balances and no bank debt, and maintains its focus on cost control and cash management.

"Initial prospects for next year look encouraging with the opening order book for 2012 currently running in excess of 12% ahead of last year."

Shares in Styles & Wood rose slightly to 8p by mid-morning.

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