Styles & Wood boosted by contract wins
PROPERTY group Styles & Wood, which carries out office, shop and hotel refurbishments and installs solar panels, says it is seeing growing confidence in its key sectors.
In a trading update ahead of its full-year results the company based in Broadheath near Altrincham said it had hit expectations in the 12 months to December 31, with good momemtum see in the second half continuing in 2015.
Chief executive Tony Lenehan 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.”
In its commercial division S&W won a £12m office refurbishment in Manchester to be completed in H1 2016 for one of the UK’s largest insurance services providers. The extensive work, for the unnamed customer, includes remodelling of the ground floor, significant structural and services infrastructure works and landscaping and courtyard works.
In hospitality and leisure, its joint venture has recently successfully completed the refurbishment of the four star Al Manzil hotel for the Emaar Hospitality Group in Dubai.
The group’s specialist renewable energy business unit has recently signed an agreement with the UK’s leading investor in solar energy, Lightsource Renewable Energy to be a preferred installer of solar photovoltaic (PV) products. Styles & Wood 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.