26th Apr 2024 14:35
(Alliance News) - Aukett Swanke Group PLC shares fell on Friday, after it said it expects its loss in the first half of the financial year to widen.
Shares in London-based Auckett were down 9.7% to 1.40 pence each in London on Friday afternoon.
The architectural and interior design services provider noted a delay in receipt of revenue.
It explained that "while the level of interest, confirmed contracts and new contract wins remains good, the start dates for a number of larger confirmed contracts, which are outside the group's control, have been delayed a little more than anticipated."
The company added that its Stage Technology business "typically performs better" in the summer months and this pattern looks set to continue into the current financial year.
Accordingly, Aukett said for the first half of the current financial year, it expects an increased pretax loss compared to a year earlier.
Looking ahead, Aukett said the outlook for the rest of the financial year "looks brighter", with an expectation that the majority of the expected loss in the first half will be recovered before the financial year end in September.
By Sophie Rose, Alliance News senior reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.