26th Mar 2009 10:53
March 26 2009
Aukett Fitzroy Robinson Group Plc
AGM STATEMENT
Aukett Fitzroy Robinson Group Plc, the international architectural and interior design practice with offices in Europe, the Middle East and Russia, held its Annual General Meeting earlier today at which all eight proposed resolutions were passed.
The Chairman, Tim Hodgson, stated:
"The UK property market continues to decline in activity and this will impact on our short term performance up to the half year. However, we are pleased to report that our strategy to develop new markets in Russia and the Middle East is progressing well with a number of large scale project enquires being pursued of which a number have recently been won. Projects in the Middle East continue to utilise our UK based resources thereby reducing the need for further restructuring.
We anticipate that turnover and profit will be down in the first half due to one-off office relocation and other re-structuring costs. However, we are confident of a recovery in profit and cash flow in the second half due to the progress on these larger projects. Overall therefore management expects to meet current market expectations for the full year"
Enquiries:
Aukett Fitzroy Robinson - 020 7636 8033
Nicholas Thompson, Chief Executive Officer
Duncan Harper, Group Finance Director
FinnCap - 020 7600 1658Sam SmithClive Carver
Adventis Financial PR - 020 7034 4759 / 4758Chris Steele
Tarquin Edwards
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