Styles & Wood sees signs of recovery

SHOPFITTING and property services group Styles & Wood said it is starting to see signs of recovery in its retail business.

The Altrincham firm said the prospects of the division improved in the fourth quarter, and this included a work with Waitrose and a developing order book for next year.

In a management statement covering the four months since November the business said its performance in the banking sector “remains strong”, and it expects its figures for the year to December 31 to be in line with management expectations.

It said: “The group expects that the investments made in 2013 in its framework relationships will deliver additional revenues in 2014 as we finalise extensions on our two largest banking frameworks.

“The scope of the work under the frameworks has been widened and the time period covered is a minimum of three years. The finalisation of the contract extensions together with the framework appointments for Waitrose and the Post Office, and investment in diversification over the past two years provide the group with a platform for growth as the economy recovers.”

The order book for 2014 stands at £34.2m, up 6.4% on 2013.