New chief executive believes the London market could help the firm return to growth

Fit-out firm Styles & Wood is targeting growth in the London market under new chief executive Tony Lenehan.

The North-west based firm suffered a 29% drop in turnover last year, but Lenehan believes the London market could help it return to growth.   

“We’re certainly looking to develop and grow our business in the capital,” said Lenehan.

“Styles & Wood entered this year with little if any business interests in London. However by the end of this year 15% of our sales will have come from there.

“There’s an awful lot going on in the capital so it’s absolutely vital that we should be here.”

The firm has been buoyed by recent contract wins on the Olympic park and an increase in work in the retail and banking sectors.

“We picked up some contracts on the Olympic Park which has spurred on our business interests in the capital,” said Lenehan.

“Since then we’ve won some work through national frameworks and begun to re-engage with some old customers.”

The company issued a turnover warning last year following a large drop off in work. The final figure came to £99.1m down from £139.3m in 2009.