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Aukett Swanke swings to annual loss on pandemic hit to H2 revenue
StockMarketWire.com
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0International group of architects Aukett Swanke swung to an annual loss a surge on Covid-19 cases weighed activity, denting revenue in the second half of the year.
For the year ended 30 September 2020, the company reported a pre-tax loss of £46 million compared with a profit of £292 million year-on-year as revenue slipped to £12.2 million from £15.5 million.
A surge in coronavirus cases led to 'sharp decline in revenues in second half from April to September,' the company said.
'The current year started with revenues below our expectations due to further project delays and below average enquiries, accordingly we expect to make a loss in H1,' it added.
'However, increased levels of enquiries and notable project wins since December have improved our order book and the potential for recovery in H2.'
At 9:44am: (LON:AUK) Aukett Swanke Group PLC share price was 0p at 1.25p
Story provided by StockMarketWire.com
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