(Alliance News) - Aukett Swanke Group PLC on Wednesday said it returned to interim profitability amid a focus on "efficient working".
The architect and interior design practice added that the early action taken to mitigate the impact of the Covid-19 virus has helped protect the business and the level of new business enquiries in the current situation remains encouraging.
For the six months to March 31, London-based Aukett Swanke recorded pretax profit of GBP136,000 compared with a pretax loss of GBP371,000 a year ago. Revenue increased modestly to GBP7.4 million from GBP7.3 million.
The swing to profit primarily resulted from a GBP53,000 gain on disposal of the company's Moscow business and a GBP32,000 reduction in direct costs.
First half personnel-related costs fell to GBP5.4 million from GBP5.6 million. Property related costs declined to GBP650,000 from GBP812,000.
Chief Executive Nicholas Thompson said: "At this stage it is impractical to predict with any certainty how the year will end. We nevertheless remain confident that we have the right business model and that we have taken pro-active steps to protect the business from the obvious uncertainties in our markets."
Shares in Aukett Swanke were down 2.1% at 1.91 pence each in London on Wednesday morning.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Aukett Swanke (AUK)