Buried in the results ...22 Oct 2013 23:08
... are some highly encouraging snippets.
"we are pleased to have successfully re-engaged with two major retail customers on a framework basis with work programmed for delivery in the second half and beyond.
Our investment in the first half of 2013 has now secured work for the second half and into 2014 with Lidl, where we have been appointed to work on two programmes of modernisation and refurbishment together with a new build project.
We have also successfully re-engaged with Waitrose and have secured the next phase of a major store redevelopment for a high end retailer.
renewables: sustainable profitable workstreams for the next 18 months.
Whilst we anticipate a strong second half, ahead of the same period last year, it is likely that the profit for the full year may fall short of 2012
The Board anticipates margin improvement as the return on this investment begins to crystallise in the second half of the year.
Styles&Wood has been appointed as one of five contractors, and the only contractor to be appointed nationally, to the Crown Transformation Programme for the Post Office, with refurbishment projects commencing in 2013 and continuing into 2014
We have however seen some improvement in our market over the last two months. Our current order book position for 2013 delivery is in line with the same point in 2012. Whilst order intake slowed in the first half of the year, recent conversion levels are now consistent with prior year and the volume of opportunities is increasing"
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H2 last year, STY returned an operating profit of £2.1m over 6 months. So encouraging that the board expect to outdo this in the current half. And with construction on the up, and h1 2014 looking better with retail, solar and post office work in the pipeline, this could be a turning point.