Styles & Wood Group Regulatory News (STY)

19 November 2012

Styles & Wood Group plc ("Styles & Wood" or the "Group")

 Interim Management Statement

Styles & Wood Group plc, a leading UK provider of property support services to banks, retailers, commercial organisations and the public sector, makes the following statement on trading for the period from 1 July to 16 November 2012.

Management anticipates that financial performance for the year ended 31 December 2012 will be in line with market expectations.

Trading conditions in the UK property market in 2012 have been exceptionally challenging, with reductions in construction output of 11.3% over the past twelve months1 having a substantive impact on our markets.

The Group's strategy to diversify into the education, health and commercial sectors has provided the business with an increased degree of resilience over the past 12 months. Alongside this diversification the Group has maintained a leading position on its framework arrangements with three of the UKs leading retail banks.

The Group continues to have a strong balance sheet and maintains its focus on cost control and cash management.

We have secured a number of projects in the commercial sector which, combined with a high level of activity in our banking frameworks, give the Group an opening order book2 of £32.2m for 2013, which is more than 20% ahead of prior year.

1 Source: Output in the Construction Industry, September and Q3 2012, Office of National Statistics: 9 November 2012

2 Order book comprises secured contracts and allocated revenue from framework arrangements

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