Interim results last September from the retail fit-out specialist contractor Styles & Wood showed that its StoreData division – which competes in the UK construction collaboration technology market – did not have a good first six months in 2007 (see post), but the second six months were a little better. Overall, however, StoreData fell short of its 2006 performance.
According to a London Stock Exchange announcement of its final results today, Styles & Wood group revenues rose 17% and pre-tax profits were up 58% in the year to 31 December 2007. In the support services division, the group’s StorePlanning and StoreCare divisions “made good progress in the year”, but, at £1.506m (2006: £1.594m), StoreData’s revenues were down by 6%, and it recorded falls in both gross profits (£194k, down from £425k in 2006) and gross margins (down from 26.7% to 12.9%) in the year.
For StoreData, then, the second half of 2007 was slightly better than the first half in terms of revenues (£888k, compared to £618k in the six months to 30 June 2007), while gross profit grew too (£120k, compared to £74k).