Fit-out specialist reports 拢0.5m loss as revenue edges up to 拢40.6m
Styles & Wood has reported a reduced loss of 拢0.5m for the six months ended 30 June 2012, down from 拢0.9m the previous year.
Revenue at the fit-out specialist edged up to 拢40.6m from 拢40.3m, while pre-tax underlying profit nudged into the black at 拢0.1m, following on from a拢0.2m loss for the same period last year.
Tony Lenehan, chief executive, said: 鈥淲hile the wider current economic environment remains particularly challenging our ability to focus on aligning our interests with the business needs of our customers has been reflected in our encouraging first half performance.
鈥淎t the same time the Group has been able to diversify to provide a more resilient model and encouraging progress has been made in securing sustainable business interest in new sectors. This emphasises the transferrable nature of our core skills sets.
鈥淥ur improved results, with both increased profit and margin, demonstrate the efficiencies of our new organisational structure, hard work of our teams and a selective approach to market opportunities.
鈥淲ith our growing order book and strong balance sheet, the Group is well positioned to build on its progress in the traditionally stronger second half of the year.鈥�
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