In the first half of 2015 Styles & Wood made a pre-tax loss of 拢500,000, although this was better than last year, when it lost 拢1.2m in the first half. 聽Revenue was up 37% in the six months to 30th June 2015 to 拢46.2m (2014 H1: 拢33.6m). This was the highest six-month sales for more than five years.
Chief executive Tony Lenehan said: 鈥淲e remain confident that the sectors and segments in which we operate are continuing to provide accessible and sustainable sources of new business opportunities.鈥�
Take supermarkets, for example: 鈥淯K major grocery retailers have undergone a significant change in property strategy with a move from new space acquisition to improvement and enhancement of existing formats and layouts,鈥� he said. 鈥淪ignificant new opportunity is anticipated in this retail segment over the next two to four years.鈥�
He added: 鈥淭he previously anticipated recovery of property refurbishment and fit out services to 2008 levels by 2017 remains a realistic target.鈥�
Styles & Wood completed a major refinancing in June 2015, which has strengthened its balance sheet, reducing net debt from 拢17.5m to 拢6.4m.
With the order book growing, the board expects full-year revenues to be approximately 20% ahead of 2014鈥檚 拢97m.