Aukett Swanke Group PLC Trading Update (0597D)
October 05 2018 - 2:00AM
UK Regulatory
TIDMAUK
RNS Number : 0597D
Aukett Swanke Group PLC
05 October 2018
Aukett Swanke Group Plc
Post period end trading update
Aukett Swanke Group Plc (the "Group") the international group of
architects, interior designers and engineers, today provides an
update on trading for the twelve months to 30 September 2018.
In our Interim Statement in June we referred to the Group
expecting to make a loss for the year ended 30 September 2018. This
continues to be our expectation. Trading in the second six months
continued to be slow and whilst we have won new instructions in
each of our geographies the progress through the early stages of
each has been intermittent resulting in revenues increasing only
slightly compared with the first half of the year. We have
continued to reduce our operating costs, a process which was
underway in the first half, albeit the benefit during FY18 will be
offset in part by the one off cost of moving our London studio in
the second half.
Despite the adverse trading position our cash management has
been effective and at 30 September the Group held cash and cash
equivalents balances of GBP694k (31 March 2018 - GBP317k) with no
secured bank overdrafts (31 March 2018 - GBP713K). After accounting
for the 5 year secure bank loan balance of GBP552k (31 March 2018 -
GBP628k) net funds stood at GBP142k (31 March 2018 - net debt
GBP311k).
Enquiries
Aukett Swanke Group Plc - 020 7843 3000
Nicholas Thompson, Chief Executive Officer
Beverley Wright, Chief Financial Officer
finnCap - 020 7220 0500
Corporate Finance: Julian Blunt; Giles Rolls / Corporate
Broking: Alice Lane
Investor/Media enquiries -07926 054111
Ben Alexander
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END
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