(Alliance News) - Aukett Swanke Group PLC on Thursday said it swung to profit in its most recently ended financial year amid cost savings and mid-single-digit revenue growth.
Aukett Swanke shares were trading 28% higher in London on Thursday at 2.50 pence each.
The interior designer and engineering company said it swung to a pretax profit of GBP292,000 in the year to the end of September compared to a GBP2.5 million loss a year earlier, as revenue increased by 7.7% to GBP15.5 million from GBP14.4 million.
Aukett Swanke said cost reductions were achieved across expenditure lines. A reduction in headcount saved the company GBP600,000 during the year, while property costs fell by nearly GBP500,000.
Looking forward, the company said it can see greater stability in all of its operations, despite the vagaries of both the political and economic environment in which it operates.
"These results are a testament to the positive attitude of all our staff as we have emerged from a difficult trading environment; the board is grateful to all concerned for their resilience," said Chief Executive Nicholas Thompson.
He added: "We look forward to improving fortunes for the group in 2020."
By Evelina Grecenko; evelinagrecenko@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Aukett Swanke (AUK)