Styles & Wood trading in line with expectations

Retail fit-out specialist Styles & Wood has said trading figures for 2009 are expected to be in line with expectations.

City forecasts estimate turnover will be about £140m and pre-tax-profit will be about £280,000.

It pointed to some recent key contract wins, including five new Waitrose stores, 13 branches of Lloyds bank and four flagship branches of Barclays.

Its recent wins also include the development of a new Habitat store on the Liverpool One scheme.

The statement said: “The board believes that with its robust financial position, coupled with its strong, loyal customer base, the group is well placed to take advantage of any market upturn and maintain its market leading position. However, the markets in which the group operates continue to remain challenging and therefore the board maintains its cautious outlook for 2010.”

The company completed a refinancing deal on 29 June this year, which included a debt for equity swap with its lenders, that left it with a cash position of £6.3m at the end of October 2009.