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

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

The shopfitting company has a lot of framework agreements, which are long-term build and maintain contracts, with retailers.

This year, Styles & Wood, which also 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.

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