Aukett Group PLC
27 March 2001
AUKETT GROUP PLC: TRADING STATEMENT
Aukett Group Plc, the architecture, design and engineering consultancy,
announces that trading and profitability during the first half of the current
financial year will lead to the results for the full year to 30 September 2001
being well below market expectations.
Group profit margins have suffered from new projects commencing at a slower
rate than had been anticipated, particularly in the United Kingdom. In
contrast, Continental European operations continue to perform well, and
further growth is anticipated over the coming year. As a result, the Group
profit before tax for the six months ending 31 March 2001 is expected to be
less than half the comparable figure last year.
The slow down in the US economy has had an effect on the volume of work being
generated by the IT sector. This relates to both internet infrastructure
work, an area of particular expertise within the Group, and projects for
clients whose businesses relate strongly to the IT sector. The performance
from other sectors which the Board has identified for expansion, such as
retail and transport, has also been disappointing during the first half of the
year. In addition, this slow down in growth in the UK has affected the return
on investment which was put in place last year to improve the Group's systems
and operations in line with the Board's stated expansion strategy.
Recent contracts secured in the UK include the successful bid, with
Development Securities, for the redevelopment of Royals Business Park in
London's Docklands. This, together with other recent project wins should
ensure better margins in the second half.
- ends -
Enquiries: -
Aukett Group Plc
Andrew Lett, Executive Chairman 020 7924 4949
John Thake, Managing Director
Robert Warner, Finance Director
Binns & Co PR Ltd
Peter Binns, Carole Butcher 020 7786 9600
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