Aukett Swanke Group PLC Trading Update and Dividend Declaration (6470W)
November 11 2014 - 2:00AM
UK Regulatory
TIDMAUK
RNS Number : 6470W
Aukett Swanke Group PLC
11 November 2014
Aukett Swanke Group Plc
Trading update and second interim dividend declaration
for the twelve months ended 30 September 2014
Aukett Swanke Group Plc (the "Group"), the international group
of architects and interior designers, is pleased to confirm today
that the Group has traded profitably in the second half and that
the full year results are expected to be in line with Board
expectations.
The UK continued to improve its financial performance in the
second half but, as expected, this was tempered by rising salary
costs and integration and property costs. Our operations in
Germany, the Middle East and Turkey were also all profitable.
Russia's losses widened in the second half. However, the recent
Moscow office co-location, staff reductions and more focused
management should bring this operation back to breakeven in
2015.
Additionally, our cash balances continued to grow with net funds
at 30 September 2014 of GBP1.78m (31 March 2014: GBP1.33m). Since
the year end we have repaid, in full, our outstanding term loan of
GBP0.11m and are currently debt free.
The Board has also today approved payment of a second interim
dividend in respect of the latter half of the year ended 30
September 2014 of 0.11 pence per share, bringing the total payment
for the year to 0.21 pence per share. The dividend will be paid on
2 December 2014 to those shareholders on the register at 21
November 2014.
It is the Board's intention to bring the timing of any future
dividends into line with market practice, declaring final and
interim dividends at the time of our final and interim results
respectively, and provide a regular basis for the timing of
dividend payments. Any final dividend declaration in respect of the
year ending 30 September 2015 will be announced with the final
results for that year and paid following approval at the next
following AGM, with any interim dividend payment for the same year
scheduled to fall approximately six months before the payment of
any final dividend.
Enquiries
Aukett Swanke Group Plc - 020 7843 3000
Nicholas Thompson, Chief Executive Officer
Beverley Wright, Group Finance Director
FinnCap 020 7220 0500
Corporate Finance: Julian Blunt/James Thompson
Corporate Broking: Stephen Norcross
Hermes Financial PR
Trevor Phillips 07889 153628
Chris Steele 07979 604687
This information is provided by RNS
The company news service from the London Stock Exchange
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