18th Feb 2014 08:40
LONDON (Alliance News) - Styles & Wood Group PLC Tuesday said it has won a GBP4.1 million refurbishment contract at the Royal Northern College of Music in Manchester, meaning its revenues from the education sector have risen to GBP10 million from GBP1.5 million over the past 18 months.
In a statement, the property services company said that its projects business unit will redevelop the music college's concert hall, increasing its capacity and introducing new advanced technical facilities over 34 weeks.
"Education remains a key strategic sector for the business and the progress we have made over the past 18 months is further evidence of the success of our diversification strategy. We are confident that the Group is well positioned to continue to achieve sustained growth in the education sector," Chief Executive Tony Lenehan said in a statement.
Styles & Wood shares were up 7.9% at 15.375 pence early Tuesday, one of the biggest gains on the London market.
By Steve McGrath; [email protected]; @SteveMcGrath1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Styles & Wood Group