Property consultant hit by ailing retail sector

Styles + Wood has posted a 拢0.9m pre-tax loss after a tough year on the High Street.

Revenue from the retail sector made up only 42% of the property consultant鈥檚 拢40.3m turnover for the six months to 30 June 2011, compared to 62% in the same period last year.

With exceptional costs stripped out, including 拢200,000 for restructuring, the pre-tax loss was 拢0.2m, a marginal improvement on the 拢0.5m underlying loss in H1 2010.

S&W said it had benefited from investment in banking and office sectors, and a growing workload with high-end department stores.

It is aiming to develop more sustainable products and in June created Gatehouse Renewables to push photovoltaics. It has also developed a modular 鈥檆ornershop鈥� solution for retail customers.

The company warned that future results could be impacted by customers cutting back in banking, retail and commercial sectors. As a result it said it would be pushing for more framework deals.

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