Aukett Swanke losses deepen amid Brexit uncertainty, UAE slowdown

Writer, Stock Market Wire
Wednesday, January 30, 2019 - 14:44

Architecture and interior design firm Aukett Swanke Group posted a deeper annual loss after Brexit uncertainty and a slowdown in the United Arab Emeriates crimped revenue.

The company booked a pre-tax loss for the year through September of £2.5m, compared to a £0.3m loss on-year.

Revenue slid 22% to £14.4m.

'The burden of the ongoing hiatus in the UK market, combined with a slowdown in the UAE and resultant provisioning, has hit us hard in reporting terms,' chief executive Nicholas Thompson said.

'Although the outlook in the UAE remains negative, we can however take some comfort from the success of our continuing focus on realigning the cost base to lower levels of activity.'

'This is leading us towards a UK breakeven allied with good trading and a positive contribution from our European hub.'


Related content

Aukett Swanke Group expects to turn cash positive

Aukett Swanke Group said it expected to report a cash positive position for the full year as trading continued to improve.

The company would report...

Mon, 08/04/2019 - 09:45


Aukett Swanke continues to forecast full-year loss amid slow performance

Aukett Swanke Group, an international group of architects, interior designers and engineers, said Friday it expected to post a full-year loss as slow performance continued...

Fri, 05/10/2018 - 07:57


Aukett Swanke revenues fall

First half revenues at Aukett Swanke Group - the international practice of architects and interior design specialists - fell by 9% to £9.1m in the...

Tue, 20/06/2017 - 07:21


Aukett Swanke profits below target

Aukett Swanke Group the international group of architects and interior designers, reports below target pre-tax profits of £0.9m for the year to the end of...

Thu, 12/01/2017 - 08:07


Aukett Swanke, Iofina and Gooch & Housego

“Robust oil prices and a relaxed stance from US Federal Reserve chairman Janet Yellen concerning interest rates kept the main markets in positive territory, despite...

Tue, 07/06/2016 - 15:16