Styles & Wood targets schools and Government hub refit

Aaron Morby 8 years ago
Share

Fit-out specialist Styles & Wood is now targeting school refurbishment and Government hub office refits as part of a major expansion plan.

Styles & Wood chief Tony Lenehan is broadening the firm's customer base
Styles & Wood chief Tony Lenehan is broadening the firm's customer base

The move on public sector work follows a new strategy to reduce the firm’s reliance on a handful of major clients, while remaining selective about which projects to pursue.

Last year this helped Style & Wood lift underlying profit before tax by 26% to £4.10m. Although delays on major frameworks with existing banking clients saw revenue slip 9% to £105m.

In the last six months, Styles & Wood has acquired Sussex-based digital centre builder Keysource and Dartford mechanical, electrical and environmental consultant GDM Group.

These acquistions are helping to spearhead a move into property consultancy work and FM.

Announcing last annual results, Tony Lenehan, CEO of Styles & Wood Group plc, said: “Our selective approach to new business opportunities and cross-sector diversification continues to benefit the group.

“Additionally,  we have made significant progress with our diversification strategy. The acquisitions of Keysource and, post-period The GDM Group, further broaden our service line capabilities and reinforce our differentiated position within our core markets.

“The group goes into 2017 in good shape, with a healthy forward order book, strong balance sheet and an unrelenting focus on delivering a truly integrated property services solution to our customers.”

The firm’s order book for this year is around 29% ahead of prior year, strengthened by the recent  acquisitions.

Also, the level and concentration of relevant framework opportunities being pursued by the Group is also significantly ahead of prior year.

Lenehan added: “Significant new opportunities are now presenting themselves in the public sector.

“The associated framework pipeline includes the grouping of refurbishment and fit-out for commercial offices, through the Government Hub initiative, and the aggregation of large scale capital expenditure in the Education Funding Agency framework retender, which is planned for later in the year.

“With successful reference projects and a clear understanding of routes to market, the Group is well positioned to address these and other specific targets.”

Latest news

Former Keltbray managers jailed after corruption trial

Jail sentences following bribery probe on jobs including Battersea Power Station
16 hours ago

Green light for £150m West End office revamp

Shaftesbury Avenue office retrofit retains 75% of original building
4 hours ago

Lidl pumps £500m into store and logistics expansion

Discounter plans 40 new stores this year as expansion ramps up
5 hours ago

JJ Rhatigan UK profit jumps as turnover tops £150m

Irish contractor's expansion in England gathers pace
5 hours ago

Driverless digger to be used on Taylor Woodrow site

Autonomous excavator to work at Manchester Airport after successful trial
5 hours ago

MCS Build lands Basingstoke warehouse scheme

Construction starts this month after £26m funding deal
5 hours ago

Leeds United unveil stadium revamp design

Club has still to set a timeframe for staged Elland Road upgrade
13 hours ago

Bowmer & Kirkland boosts margins as profits surge to £69m

Revenue nudges up towards £1.3bn in year of expansion
1 day ago

Offshore construction starts on £4bn windfarm

Foundations for first of 95 turbines installed: Watch video
1 day ago

AECOM buys civils consultant Allen Gordon

Global giant acquires Scottish water and energy specialist
1 day ago

Plans in for £1bn Northern Gateway site in Manchester

Plan for 500-acre manufacturing and logistic park advance
1 day ago

RED wins £31m London Shoreditch student digs job

Two extra floors will be added to Willen House scheme
1 day ago

Deconstruct handed £12m Grenfell demolition

Firm maintaining building awarded job without bid race to speed process
1 day ago

Sizewell site workers get made to measure PPE

Bespoke fitting service on offer at new Bryson branch
1 day ago

Comment: Gateway is acting like a barricade

Contractors left banging their heads on an (unbuilt) brick wall
4 days ago

Final phase of £1.5bn Elephant and Castle revamp hits planning

Get Living submits revised plan for 500 homes and 450-bed student block
5 days ago

Ealing backs final phase of £1.3bn estate rebuild

Friary Park estate rebuild in Acton reaches end stage
4 days ago

Green light for scaled-down Nottingham student tower

Glasshouse Street scheme will deliver 247 student rooms
4 days ago

Aston Villa to revamp North Stand

Club to reuse existing structure rather than complete rebuild
5 days ago

Mace signs ex-ISG director to lead Euro health and tech push

Gary Sweeney to head up healthcare and life sciences consultancy arm
4 days ago

Sir Robert McAlpine claws way back into profit

Firm says return to profit and strong cash balance validates new strategy
5 days ago

Severfield to cut staff by 6% amid pricing pressure

Steelwork contractor warns of extended tighter pricing due to project delays
5 days ago

JRL completes sale of 50% stake to Malaysian giant IJM

Deal boosts balance sheet and kicks starts growth plan
5 days ago

Green light for £100m Liverpool Baltic station build

Enabling highway works to start in the autumn
6 days ago

First live tests for flying construction robots

Drones can lay construction materials at height on site
5 days ago

Three firms land £170m Gentoo Sunderland housing deal

PHS Solutions, Esh and RE:GEN to deliver 10-year home upgrade plan
6 days ago

Gateway gridlock hits build-to-rent delivery as starts nosedive

Build to rent starts plunge 18% in the capital
6 days ago

Call to shift Gateway 2 checks to end building bottleneck

"The current system isn't working but we all want to see safe buildings"
6 days ago

GBN launches £600m bid race for SMR engineer roles

Owner engineers to provide technical and assurance services
6 days ago

Wates hires ex-Homes England chief to head public sector push

Robert Stone to spearhead its public sector and national frameworks strategy
6 days ago

Contractor services