Last checked at 20 Sep 2011 07:00
Aukett Fitzroy Robinson Group Plc
("the Company")
Trading update
"We are pleased to announce that a stronger end to the current financial year will return the Group to profit in the second half before an exceptional item relating to the previously announced litigation costs. For the year as a whole therefore, we expect to make a much reduced operating loss.
There has been a marked improvement in the number and size of new enquiries both in the UK and in our Russian business. These are mainly prestige projects that will be built in 2013 and beyond. However, as architects, much of Aukett Fitzroy Robinson's input on these projects will occur before the construction phase over the next 18 to 24 months.
The Group has been instructed on the feasibility and planning phases of a total of 24 new projects in the UK and Russia, which provide some 6.8 million sq ft of development space with a combined construction value of £891 million.
The Group order book currently stands at 42 schemes or projects which provide 19.70 million sq ft of development space with a combined construction value of £2,219 million. Should all these schemes proceed to completion the balance of fees due to AFR would be £82 million.
The impact of this will be seen mainly in the year ending 30 September 2012 and beyond. "
Enquiries
Aukett Fitzroy Robinson 020 7843 3000
Nicholas Thompson, Chief Executive
Duncan Harper, Group Finance Director
finnCap 0207 220 0500
Corporate Finance Clive Carver / Rose Herbert
Corporate Broking Simon Starr / Stephen Norcross
Hermes Financial PR
Chris Steele 07979 604687
Trevor Philips 07889 153628