Styles & Wood has said it expects to see a sharp decline in its revenue when it releases its annual results at the end of the year.

In a trading update to the City, the Altrincham-based property services company said revenue for the year to 31 December was expected to be between 拢95m and 拢100m, a fall from 拢139.3m last year and 拢243.1m in 2008.

The company said: 鈥淥ver recent weeks, the group has experienced some customer deferral of projects anticipated to be delivered in quarter four of 2010.鈥�

However, it said it still expected to return to profit this financial year. In 2009 it made a pre-tax loss of 拢1.8m.

Shares in the company rose 9% in August after it announced that it would return to profit after receiving a rush of orders.

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