REG - Aukett Swanke Group - AGM Trading Statement

Aukett SwankeAnnouncement

26/04/2024 08:00

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RNS Number : 1848M  Aukett Swanke Group PLC  26 April 2024

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
(https://www.aukettswankeplc.com)

 

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