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Styles & Wood Expects In-Line Performance As Market Improves

Wed, 20th Nov 2013 11:01

LONDON (Alliance News) - Styles & Wood Group PLC Wednesday said that it anticipated its full-year financial performance will be in line with expectations, as improvements in its markets have slowly continued, and it has begun to see recovery in its retail prospects.

Styles & Wood is a property services company that works in the banking, retail, leisure, commercial and public sectors.

It said that the improvements in its market it had highlighted in its interim results had continued. However progress was at a slow rate.

In the fourth quarter, improved activity showed signs of recovery in the company's retail prospects, as it won work as a Waitrose framework contractor and developed its order book for 2014. The company's order book for 2014 stands at GBP34.2 million. Waitrose Limited is grocer owned by the John Lewis Partnership PLC.

Investments made during 2013 in its framework relationships will deliver additional revenues in 2014, Styles & Wood said, as it finalised extensions on its two largest banking frameworks.

In the banking sector performance remained strong, Styles & Wood said.

Shares in Styles & Wood were trading up 3.5% at 8.15 pence Wednesday morning.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews