Styles & Wood Group PLC AGM Statement (6218G)

TIDMSTY

RNS Number : 6218G

Styles & Wood Group PLC

31 May 2017

31 May 2017

Styles&Wood Group plc

("Styles&Wood" or the "Group")

AGM Statement

Speaking today at the Annual General Meeting ("AGM") of Styles&Wood, the integrated property services and project delivery specialist, the Chairman, Paul Mitchell, will provide the following update to shareholders:

"The Group's trading in the year to date has been in line with management expectations. The Order Book for the year ending 31(st) December 2017 now stands at GBP136.6m, some 36% ahead of prior year, with a traditional seasonal weighting towards the second half of the year.

I am pleased with the performance of our recent acquisitions, and how they have been integrated within the broader Group. Styles&Wood, through Keysource, has recently been awarded its first critical facilities project for a financial institution. Additionally, Keysource has also converted two projects with a combined value in excess of GBP5m for a major risk advisory consultancy, and its award winning consultancy services are now supporting international customers. The GDM Group has traded well during the first four months of the year, and has also provided a conduit to realise synergies across the broader Group.

Styles&Wood has a healthy trading position which has been strengthened by the conversion of a new framework to support an estate transformation programme for Wolseley, and securing preferred bidder positions for two major refurbishment projects. These projects have a cumulative value in excess of GBP40m and include a city centre aparthotel further evidencing the Group's credentials in this developing sector.

The Board remains confident in the outlook for the Group and looks forward to reporting on further progress in 2017."

For further information please contact:

 
 Styles & Wood Group plc         Tel [phone] 
 Tony Lenehan, Chief Executive 
  Officer 
 Philip Lanigan, Group Finance 
  Director 
 Shore Capital                   Tel [phone] 
 Mark Percy / Edward Mansfield 
 FTI Consulting                  Tel [phone] 
 Oliver Winters / James Styles 
 

Notes to Editors

Styles&Wood provide a fully integrated suite of real estate support services which address the complete property life cycle. The business offers clients building intelligence, design, programme implementation and project delivery services across commercial, retail, banking, education and healthcare sectors.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 31, 2017 02:00 ET (06:00 GMT)