Shares in Styles & Wood Group leapt by nearly a fifth after the property services firm said revenues and underlying pre-tax profits for 2011 are on track to meet market  forecasts and that its 2012 order book is racing ahead of last year.

The Altrincham-based fit-out specialist's shares gained 1.38p or 19.71 per cent to 8.38p after the update.

Styles & Wood said trading since July has been in line with management forecasts despite testing market conditions.

It has undertaken several projects for high-end retailers and has made further progress to diversify into new sectors.

As a result, revenues from the banking, commercial and public sectors will top 55 per cent of group turnover this year, up from 51 per cent in 2010.

In an upbeat statement, Styles & Wood added: “The group continues to have a strong balance sheet with positive cash balances and no bank debt, and maintains its focus on cost control and cash management.”

The group, led by chief executive Tony Lenehan, added: “Initial prospects for next year look encouraging with the opening order book for 2012 currently running in excess of 12 per cent ahead of last year.”

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