Last checked at 8 Oct 2010 07:00
Aukett Fitzroy Robinson Group plc
Trading update
In advance of the final results for the twelve months to 30 September 2010, to be published in January 2011, Aukett Fitzroy Robinson Group Plc ("the Group"), the international practice of Architects and Interior Design Specialists advises that it expects to have reduced its year end losses to under half those of the prior year.
However, we are pleased to report that the Group has generated cash of circa £1,500,000 in the twelve months to 30 September 2010, resulting in year end net funds of £125,000 and eliminating the prior year net debt of £1,393,000 Furthermore, monies due of approximately £900,000 are still to be collected, the timing of which is dependent upon the sale of the UK properties upon which the monies are secured.
As indicated in our previous statements the Group has maintained its skill base across its network of international offices during the current economic slowdown despite the ongoing short term impact on financial performance.
In the UK there has been some movement in commercial projects, in the regions, that had previously been suspended. In the short-term however, the Directors believe that the vast majority of opportunities reside in London where the Group has a particularly strong track record and client base. Elsewhere we are seeing a revival of interest in commercial opportunities in our other two key markets: Russia and the Middle East.
Enquiries
Aukett Fitzroy Robinson - 020 7636 8033
Nicholas Thompson, Chief Executive Officer
Duncan Harper, Group Finance Director
finnCap - 020 7600 1658
Corporate Finance Clive Carver / Rose Herbert
Corporate Broking Simon Starr / Stephen Norcross
Hermes Financial PR
Chris Steele - 07979 604687
Trevor Phillips - 07889 153628