Styles & Wood Group Regulatory News (STY)

10 Jan 2008 07:00

Styles & Wood Group PLC10 January 2008 10th January 2008 Styles & Wood Group plc ("Styles & Wood" or the "Group") Trading Update The Board of Styles & Wood Group plc, a leading provider of property services topremier UK retailers, is pleased to provide the following trading update for theyear ended 31st December 2007. 2007 has been the 14th consecutive year of growth for the Group. Given thecontinued strong performance in the second half, the Board is pleased toannounce that it expects the results for the year to be ahead of expectations. The Group has continued to win major new customers having secured TheCo-operative, Morrisons and Nationwide in the year. Additionally, important newframework arrangements have been secured with existing customers including Asda,and Sainsbury's. Over 90% of our 2007 revenue came from existing frameworkarrangements. Clearly there is a challenging outlook for the retail sector in 2008. However,our business serves the Premier League retailers who continue to focus on thestore environment to improve the customer experience and their competitiveposition in the market. Also, the increase in multi-format retailing isgenerating further investment in stores and the strong trend for major retailersto outsource property services continues. This is driving the continued growthof our Support Service divisions which, in 2007 are expected to have contributeda record 30% of operating profit. The Group's key indicators are in good order as we look to 2008 with our OpeningOrder Book at £137m (2007: £121m) and our Projected Order Book having grown inline with expectations. The Food Retail sector is expected to be a particularlystrong performer in the next financial year as our customer portfolio nowincludes Asda, The Co-operative, Morrisons, Sainsbury's, Tesco and Waitrose. Styles & Wood intends to announce its results for the year ended 31st December2007 on 28th February 2008. Ends Enquiries: Styles & Wood Group plc Tel: 0161 926 6000Gerard Quiligotti, Executive ChairmanNeil Davies, Chief ExecutiveGraham Clark, Director of Finance Financial Dynamics Tel: 020 7831 3113Billy CleggAlex Beagley Notes to Editors: Styles & Wood employs approximately 420 staff and operates from four officeslocated in Altrincham (its headquarters), London, Nottingham and Milton Keynes. Styles & Wood provides its store development services to premier UK retailersthrough four distinct divisions: StoreFit is the Group's core operation and the UK's leading fit-out business tothe retail sector in revenue terms. The division provides project management andimplementation services for new store fit-out, existing store refurbishment andextension programmes to its customers typically through long term frameworkarrangements. StorePlanning is Styles & Wood's retail design development division providing arange of services including surveying, space planning, design development andarchitectural services. StoreCare provides project management solutions that support retailers in theuse of their store portfolio once the new store or store refurbishment becomesoperational including planned maintenance, new merchandising layouts andpromotional activities. StoreData provides retailers with technology based property informationsolutions that can manage significant amounts of data about their propertyportfolios, including the provision of online information on design standards,cost and programme tracking. Styles & Wood floated on the Official List of the London Stock Exchange inNovember 2006. For further information please visit the company website,www.stylesandwood.co.uk This information is provided by RNS The company news service from the London Stock Exchange