Aukett Swanke Group PLC AGM Statement (2156U)
March 28 2019 - 3:00AM
UK Regulatory
TIDMAUK
RNS Number : 2156U
Aukett Swanke Group PLC
28 March 2019
Aukett Swanke Group Plc
AGM statement
At the Company's Annual General Meeting to be held today at
10am, Anthony Simmonds (Chairman) will make the following
statement:
Aukett Swanke Group Plc (the "Group") the international group of
architects, interior designers and engineers, today provides an
update on trading for the second half of the current financial
year.
In our year end Report and Accounts for 2018 we stated that we
expected a better outcome in 2019, albeit that the first half would
be focused on mitigating the residual impact of the losses in the
Middle East from the previous year. This has continued to be the
case.
At the Group level we continue to expect the first half to be
loss-making, though with such losses much reduced from the prior
year figure. We currently expect both the United Kingdom and
Continental European operations to perform close to breakeven
during the first half with the Middle East being less favourable.
In recent weeks the Middle East has won some notable and
high-profile design contracts but these commenced too late to
benefit the first half.
The Board continues to be cautious about the overall performance
for the full year which remains revenue sensitive, though we are
confident to repeat the guidance provided in January, namely that
we expect the Group overall to be in profit for the 2019 financial
year.
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
Ben Alexander 07926 054 111
Chris Steele 07979 604 687
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END
AGMCKODBQBKDANB
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