Former Bovis man Lenehan has been overseeing a restructuring of the Styles & Wood business during the first six months of the year.

Pre-tax losses were the same as 2010 but gross margins increased to 7.9% from 7.4% as turnover stayed steady at £40.3m.

Lenehan said: “This has been a period of significant transformation for the Group and I am pleased with the achievements in the six months since I joined.

“Despite the current economic environment, we have been able to deliver an improved set of results that reflect our decision not to chase revenue at the expense of margin.”

Lenehan joined the firm in January and his restructuring programme cost £200,000 in redundancy payments due to a “de-layering of the management structure.”

Looking ahead, Lenehan said: “Our credentials in Retail remain strategically important to the business and to our customers.

“We continue to diversify by entering sectors such as education and to further expand into Office and Banking where our skills are valued. This mix and diversification provides a more resilient business model.

“The current unexecuted secured order book for the second half of the year is tracking 10% ahead of that for 2010.

“We are still bidding and converting opportunities for delivery in 2011 and we are encouraged by our customers’ indications that their investment plans for 2012 will be above 2011 levels.”