Styles expects to be back in black

ALTRINCHAM-based shopfitting contractor Styles & Wood has said that it expects its business to return to profit during its current financial year.

The company has issued a trading update covering the period between July and October 27, during which it said trading conditions remained “difficult” and a number of customers deferred planned spending projects.

As a result, it said sales are expected to be slightly lower at between £95m-£100m. However, it added that it expected the improvement in margins experienced in the first half of the year to continue.

“The Group continues to have a strong balance sheet and a sustained focus on cost control and cash management,” the company said. “In line with our strategy we continue to focus on profitable projects rather than market share.”