11th Feb 2015 10:05
LONDON (Alliance News) - Property services company Styles&Wood Group PLC on Wednesday said its full-year trading was in line with expectations on the back of a rise in revenue in the second half.
The group said the rise in revenue seen in the second half of the year to the end of December has continued into 2015, with increasing activity levels and confidence in its core markets.
The company has been named preferred contractor for a GBP12 million office refurbishment programme in Manchester, due to be completed in the first half of 2016 on behalf of an unnamed insurance company.
Elsewhere, the company's joint venture with Dutco has completed refurbishment work on the Al Manzil hotel in Dubai on behalf of Emaar Hospitality Group and the group has signed a deal to be the preferred installer of solar photovolatic products for Lightsource Renewable Energy, a UK-based solar energy investor.
"The group continues to generate significant momentum across all of its key sectors. The recent contract wins, following on from our success in the banking sector at the end of 2014, are testament to the success of our diversification strategy and relevance of our transferrable skill set," said Styles&Wood Chief Executive Officer Tony Lenehan.
"We are encouraged by the growing confidence being seen in our key sectors and believe we are well positioned to continue growing our market share," Lenehan added.
Shares in Styles&Wood were up 8.6% to 72.75 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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