Member Article

Altrincham-based Styles & Wood back in the black

Altrincham-based Styles & Wood Group plc, the integrated property services and project delivery specialist announces its unaudited Preliminary Results for the year ended 31 December 2014.

The stats

The group has reported a pre-tax profit of £0.6m (2013: Loss £0.5m) putting it back in the black.

It has also seen an increase in revenue which is up 3.2% to £97.0m (2013: £94.0m).

The analysis

The group has seen a good year with multi-million pound contract winsand an order book at year end that increased by 20% to £79.9m (2013: £66.5m)

The comment

CEO of Styles & Wood Group, Tony Lenehan, said: “The anticipated improvement in trading for the second half of 2014 has realised a significant increase in underlying profit before tax to £2.1m, in line with management expectations.

“Our opening order book for 2015 was 20% ahead of 2014 and at the end of May remained significantly ahead of the prior year and alongside the improvement in gross margin is a positive endorsement of the Group’s diversification strategy and selective market focus.

“We now have best practice references in our chosen sectors and segments.

“This is creating an environment where we are able to provide a broader portfolio of services to support our customers’ property interests.

“This expert capability can effectively support a wide range of work streams and provides business resilience, reflected by our strengthening order book and trading since the period end.”

The summary

A strong year for the group which is now back in the black.

This was posted in Bdaily's Members' News section by Sophia Taha .