Styles & Wood Group Share News (STY)

Shares in global estate agent DTZ tumbled 10% as it warned ongoing problems in the UK & Ireland, Europe and Africa will mean results to April 2011 coming in below current market expectations and the group posting a small loss for the year.Property group Rugby Estates will return a further 100p early in 2011 subject to completion of the sale of a property that will realise £1.2m and further sales totalling £2.2m. Profit before taxation came in at £2.38m in the half year to July with net asset value per share 420p (31 January 2010: 421p; 31 July 2009: 424p. Adjusting for the most recent return of 175p cash per share and the associated share capital consolidation, pro forma triple net asset value per share as at 31 July 2010 was 522p.TT Electronics expects its overall performance for the full year will be moderately ahead of its previous expectations. Trading continued to improve in the third quarter with good growth in the majority of its markets including automotive markets in Europe and Asia. Sales from continuing operations in the nine months to September of £430.7m. TT expects some easing in the rate of growth during the last quarter of the year to normalised levels.Set-top box maker Pace is seeing strong demand for its products and technologies. Revenues and volume deliveries have tracked to plan as operators continue to grow their high definition services as well as introduce new ones such as 3D, 'over-the-top' style on demand content and inter-connected multiroom TV. As a result the board is confident in its outlook for the year to December 2010.Shopfitter Styles & Wood expects a return to profit this year despite tough trading conditions and contract deferrals. 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.