Business
Announcement of final results for the year end
Announcement of final results for the year end.
About this update from Built Cybernetics Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7306G\n Aukett Swanke Group PLC\n 31 March 2022\n \n \n \n \n Aukett Swanke Group Plc \n \n \n Announcement of final audited results\n for the year ended 30 September 2021\n \n Announcement of final audited results for the year ended 30 September 2021\n \n Aukett Swanke Group plc (\"the Group\"), the international group of architects, interior designers and engineers announces its final audited results for the year ended 30 September 2021.\n \n Highlights\n \n Revenue (less sub consultant costs) decreased by 22% to £8,822k (2020: £11,336k) primarily due to the continuing impact of COVID leading to uncertainty in decision making and inevitable delays.\n \n \n \n Businesses in both the UK and the Middle East were loss-making however Continental Europe made a profit (excluding Group management charges) of £330k.\n \n The overall loss for the year was £1,136k (2020: loss £20k), largely due to sup-optimal group plc costs and a one-off impairment of £249k.\n \n As the impacts of the pandemic subsided in the second half of the year, revenue stabilised, increasing to £4,683k (H1: £4,139k) and losses before impairment reduced to £265k (H1: loss £1.017m).\n \n Operations\n \n \n \n Looking forward the Group are considering a range of structural and geographic options to stabilise and improve the Group's underlying financial position.\n \n Following the retirement of Nicholas Thompson at the end of the year, a new CEO will step in to lead the business in the next phase of its operations.\n \n \n Nicholas Thompson, CEO said\n \n \"The pandemic has continued to affect the operations of our business, and any signs of recovery have been slow to emerge. The efforts of the business to adapt to the current economic climate has resulted in stabilised revenues in H2, higher than those in the same period in 2020, however we still have more to do if we want to return to the level of profit achieved pre-pandemic.\n \n As stated in our interim accounts, H1 was strongly impacted by the uncertainties created by COVID-19 in form of project delays and deferments, and despite a more positive H2 than in 2020 there was still a greater overall loss for the period.\n \n I look forward to working with the Board until the end of 2022 and ...