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Styles and Wood records 900k loss

Fit out contractor Styles & Wood Group reported a pre-tax loss of £900,000 in its half-year interim results.

The firm’s £40.3 million revenue was broadly flat and saw a pre-tax margin of 2.2 per cent since the start of the year.

The announcement comes after the firm reported an annual decline in revenue of 29 per cent from £139.3m to £99.1m in 2009.

Style & Wood’s chief executive Tony Lenehan, who took over after the departure of Ivan McKeever last year, said : “This has been a significant transformation. I am pleased with the achievements since I joined Style & Woods. We have been able to deliver an improved set of results that reflect our decision not to chase revenue at the expense of margin.

“While we expect market conditions to remain challenging we are encouraged by the Group’s order book.”

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