Styles & Wood has reported revenue for the full year increased by 3.2% to 拢97.0m while corresponding underlying profit before tax improved by 拢1.4m to 拢2.1m (2013: 拢700,000).
It made a pre-tax profit of 拢600,000, compared to a loss of 拢500,000 in 2013.
Projects during 2014 included building, refurbishing or extending 22 Lidl supermarkets and an 拢18m contract to refurbish branches of a leading high street bank.
The upturn in fortunes came in the second half of 2014 and the improvement has continued into 2015. The current order book for 2015 (secured and anticipated) is 拢103.0m which is significantly ahead of the 拢86.3m this time last year.
It is the company鈥檚 Professional Services operation that is leading the way. The Contracting Services division remains loss making.
Revenue for Professional Services in 2014, which incorporates Building Intelligence, Design and Frameworks, rose to 拢64.3m (2013: 拢56.9m). Profit contribution generated from Professional Services increased from 拢6.5m to 拢9.0m.
Revenue for Contracting Services, Projects and Renewables, dropped to 拢32.7m (2013: 拢37.1m). This included the completion of the Royal Northern College of Music Concert Hall, a number of new stores for Lidl and securing the 拢9m contract for the refurbishment of Lancaster University Library. But the division鈥檚 loss widened from 拢200,000 to 拢400,000.
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