Styles & Wood order book reaches £32.2m

David McCourt

The Manchester-based fit-out provider's opening order book figure for 2013 is up more than 20% on 2012.

The company, whose head office is at Aspect House, Altrincham, updated shareholders for the period from 1 July to 16 November 2012 in its interim management statement to the London Stock Exchange.

Styles & Wood fits out and refurbishes banks, shops, and offices. The company's statement on Monday said: "With reductions in construction output of 11.3% over the past year trading conditions in the UK property market in 2012 have been exceptionally challenging.

"The group's strategy to diversify into the education, health and commercial sectors, along with holding onto its framework arrangements with three of the UK's leading retail banks, has helped maintain a strong balance sheet.

"Having secured a number of projects in the commercial sector, combined with a high level of activity in our banking frameworks, management anticipates financial performance for this year will be in line with market expectations."

Styles & Wood was recently awarded a project to re-fit and refurbish the new Connell Club and Mancunian suites within the City of Manchester Stadium.

The share price was flat at 7p in early trading.

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