Styles & Wood on target in ‘challenging’ times

DIVERSIFICATION has helped fit-out group Styles & Wood Group weather an “exceptionally challenging” property market.

In an interim management statement covering the period from July 1 to November 16, the Altrincham firm said its move into education, health and commercial sectors had given it an increased degree of resilience over the past 12 months.

It said reductions in construction output of 11.3% over the past twelve months have had “a substantive impact” on our markets.

Nonetheless, management expects the firm’s performance in the full-year to December 31 to be in line with market expectations.

It is still working with three of the main High Street banks and has a secured a number of projects in the commercial sector which mean it has an order book of £32.2m for 2013, up 20% on last year.