Property services company Styles & Wood (LON:STY) saw shares rise over 5 percent on Wednesday, after an update to investors confirmed trading for the year to date was in line with expectations.
In a statement, the company said the Order Book for the year ending 31st December 2017 now stands at £136.6 million, around 36 percent ahead of prior year. The company added that it has a traditional seasonal weighting towards the second half of the year.
Chairman Paul Mitchell said: “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 £40 million 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 the year ended 31st December 2016, Styles & Wood made profit before tax of £3.54 million, a 50 percent increase on the year before. Revenue for the year was fell 9 percent to £104.7 million, mainly due to deferral of project and programme work into 2017.
Shares in Styles & Wood are currently up 5.41 percent to 370.00 (0829GMT). The company engages in providing property services to banking and finance, retail and leisure, commercial and public sector organisations.