26 April 2024
Aukett Swanke Group
Plc
("Aukett Swanke", the
"Company", or, together
with its subsidiaries, the "Group")
AGM Trading
Statement
Aukett Swanke (AIM: AUK), the group
providing Smart Buildings, Architectural and Design Services, is
holding its Annual General Meeting at 10:00a.m. today. At the
meeting, Clive Carver, Chairman, will make the following
statement:
As noted in the recently published
financial statements for the year ended 30 September 2023, while
the level of interest, confirmed contracts and new contract wins
remains good, the start dates for a number of larger confirmed
contracts, which are outside the Group's control, have been delayed
a little more than anticipated. This has resulted in a delay to the
receipt of expected revenues.
The Stage Technology business,
acquired as part of the Torpedo Factory Group acquisition,
typically performs better in the summer months and this pattern
looks set to continue into the current financial year.
Accordingly, for the first half of
the current financial year, while the Group expects to report
significantly larger revenues, it also expects an increased loss
before tax, compared to the corresponding period in the previous
financial year.
The outlook for the remainder of the
financial year looks brighter, with an expectation that the
majority of the expected loss in the first half will be recovered
before the financial year end in September 2024.
Vanti
The Group is pleased to report a
strong start for Vanti under the Group's ownership.
A number of prospective orders and
previous expressions of interest, made before the Group's
acquisition of the Vanti assets in March 2024, have already been
converted to formal contracts, with others at late stages of
negotiations. The value to date of these confirmed orders is in
excess of £1 million.
The work secured is primarily Master
System Integration work delivering Smart Buildings.
The Group has been pleased to see
the early collaboration of the Group's senior architectural staff
and Vanti staff, to take the Vanti offering to a wider client base,
which was part of the rationale for the Vanti acquisition. This
encouraging start reinforces the Board's continuing focus on
developing its architecture-led Smart Buildings
strategy.
The Group's focus for the remainder
of the financial year will be to continue integrating the four
Smart Buildings acquisitions made to date and to deliver a
profitable second half to the financial year.
Contacts
Aukett Swanke Group
Plc
+44 (0) 20 7843 3000
Clive Carver, Chairman
Nick Clark, Chief
Executive
Strand Hanson Limited, Financial and Nominated Adviser
+44 (0) 20 7409 3494
Richard Johnson, James
Bellman
Zeus Capital Limited,
Broker
+44 (0) 20 3829 5000
Simon Johnson, Louisa
Waddell
Investor/Media
+44 (0) 7979 604 687
Chris Steele
About Aukett Swanke Group Plc
Aukett Swanke Group has a strong
foundation in architectural services and is on a transformative
journey to become a London-listed provider of Smart Buildings and
related services. ASG are uniquely positioned to ensure the
technical systems that run modern premises are designed as an
integral part of the structure, from the outset.
For more information go to
https://www.aukettswankeplc.com