Aukett Swanke Group PLC – AUK – Interim results

Aukett Swanke Group PLC – AUK – Interim results

Aukett Swanke Group Plc (the "Group"), the international practice of architects, interior designers and engineers, is pleased to announce its interim results for the six-month period ended 31 March 2021.

 

Highlights

 

The Group's most recent 12 months of trading has occurred during the COVID-19 pandemic.

 

                                                                   H1/2021        H2/2020

Extract                                                          £000              £000

 

Revenue less sub consultant costs        4,139              4,476   fall of 7.5%

 

Operating costs                                         5,178              4,959   rise of 4.4%

 

Operating loss                                          (1,039)               (483)

 

Loss before tax                                         (1,017)               (182)   

 

Net Funds                                                      201                  837

Before management charges the UK & UAE made reported losses while Continental Europe maintained its profitability.

UK wrote £6.0m of new orders and Berlin €4.0m in H1/2021 (fees net of subconsultant costs).

Banking facilities increased from £500k to £1m in May 2021.

 

Commenting on the interim results, CEO Nicholas Thompson said:

 

"These results show the full impact of the uncertainties created by COVID-19 in the form of project delays and deferments.

 

Action taken during the period under review, and subsequently, has provided additional support to our business model and should improve our financial performance. However, this is unlikely to come soon enough to avoid reporting a loss for the year as a whole."

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