Property support company expects revenue to drop £40m from 2009 figure

Property support company Styles & Wood Group has announced it expects to see another sharp decline in its revenues when it releases its annual results at the end of the year.

In a trading update, it said revenue for the year to 31 December is expected to be between £95m and £100m, a fall from £139.3m last year and £243.1m in 2008.

The company said: “Over recent weeks, the Group has experienced some customer deferral of projects anticipated to be delivered in quarter four of 2010”.

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