28th Jun 2019 10:49
(Alliance News) - Shares in architecture firm Aukett Swanke Group PLC jumped Friday after interim losses narrowed significantly as costs fell sharply, despite revenue suffering in a tough market.
Shares in Aukett Swanke were 4.5% higher at 1.75 pence in London on Friday.
For the six months ended March, pretax loss improved to GBP371,000 from GBP1.2 million the year prior. This was despite revenue falling to GBP7.3 million from GBP7.4 million the year before.
Profit performance was helped by personnel costs falling to GBP5.6 million from GBP6.0 million the year prior and other operating costs dropping to GBP725,000 from GBP1.1 million the year before.
"Every section of the construction industry continues to struggle with the slowdown arising from the uncertainty presented by the current political and economic climate around the world," Aukett Swanke Chief Executive Officer Nicholas Thompson said.
"But we are pleased to show an improvement in our figures as a result of the vigorous actions taken by our management teams in the reorganisation and restructuring of the business and have every expectation of a return to profitability in the near future," Thompson added.
Aukett Swanke does not currently pay an interim dividend.
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