The boss of Styles & Wood has warned of the challenging retail market, despite the shopfitting company delivering a sparkling set of full-year results.

Styles & Wood chief executive Neil Davies said: “We’re not taking anything for granted at the moment. The order book from retailers [in 2007] was a record for us, but there are no guarantees. We’ve got to be absolutely aware of the [economic] climate and how retailers are reacting to it.”

For the year to December 31, Styles & Wood delivered pre-tax profits up 58 per cent to£11.8 million, on sales up 17 per cent to£315.5 million.

“We do expect the major [retail] players to be the most resilient, but it’s going to be a really challenging year,” said Davies.

Styles & Wood is doing a lot of framework agreements, which are long-term build and maintain contracts, with retailers.

This year, Styles & Wood, which provides other retail property services, is likely to deliver 60 per cent of its retail fit-out sales in the second-half, unlike last year’s more even spread of sales, said Davies.