Styles & Wood Group Regulatory News (STY)

11 February 2015

Styles&Wood Group plc

Trading Update

Styles&Wood Group plc ("Styles&Wood" or the "Group"), the integrated property services and project delivery specialist, is pleased to provide a trading update ahead of its full year results due to be announced in April 2015.

The Group traded in line with market expectations for the financial year ended 31 December 2014 with significant increases in revenue being experienced in the second half, as forecast at the time of the interim results. The momentum seen in the second half of 2014 has continued into 2015 with increasing levels of activity and confidence across the Group's core sectors. A number of new contract wins and successful project completions continue to validate the Group's diversification strategy.

Commercial

Styles& Wood has secured 'Preferred Contractor' status for a £12 million office refurbishment in Manchester to be completed in H1 2016 for one of the UK's largest insurance services providers. This will be the second project delivered for this client and will see the design, construction and Category A refurbishment of over 150,000ft2 of lettable office and retail space.

The extensive scope of works also includes remodelling of the ground floor, significant structural and services infrastructure works and landscaping and courtyard works.

This contract follows the Group's recent appointment on the £4 million Citygate Court project which will involve the strip-out and Category A refurbishment of all eight floors covering 50,000 ft2 of commercial office space in Manchester city centre and demonstrates Styles&Wood's credentials in the commercial sector.

Hospitality & Leisure

The Group's joint venture with Dutco has recently successfully completed the refurbishment of the four star Al Manzil hotel for the Emaar Hospitality Group in Dubai. Dutco Styles&Wood was appointed as main contractor for the project which involved complete refurbishment of the 200 bedroom hotel including all common areas, courtyard, all day dining, swimming pool and gymnasium.

Energy

The Group's specialist renewable energy business unit has signed an agreement with the UK's leading investor in solar energy, Lightsource Renewable Energy ("Lightsource"), to be a preferred installer of solar photovoltaic (PV) products. The Group will join Lightsource's network of 30 PV installation partners, as part of its strategy to develop the market for solar panel projects in the UK. Lightsource's investment has already reached £1.5 billion over the past four years and the business aims to have a 1 Gigawatt combined ground mount and rooftop solar portfolio by March 2015.

Tony Lenehan, CEO at Styles&Wood, said:

"The Group continues to generate significant momentum across all of its key sectors. The recent contract wins, following on from our success in the banking sector at the end of 2014, are testament to the success of our diversification strategy and relevance of our transferrable skill set. We are encouraged by the growing confidence being seen in our key sectors and believe we are well positioned to continue growing our market share."

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Notes to Editors

Styles & Wood provides a fully integrated range of property support services including design, building intelligence, carbon abatement, programmes and project delivery. The business offers clients across retail, banking, commercial, education, healthcare and leisure sectors contracting services to manage and improve the performance of property assets.