Aukett Swanke Group Plc
Trading update and second interim dividend declaration
for the twelve months ended 30 September 2014
Aukett Swanke Group Plc (the "Group"), the international group of architects and interior designers, is pleased to confirm today that the Group has traded profitably in the second half and that the full year results are expected to be in line with Board expectations.
The UK continued to improve its financial performance in the second half but, as expected, this was tempered by rising salary costs and integration and property costs. Our operations in Germany, the Middle East and Turkey were also all profitable. Russia's losses widened in the second half. However, the recent Moscow office co-location, staff reductions and more focused management should bring this operation back to breakeven in 2015.
Additionally, our cash balances continued to grow with net funds at 30 September 2014 of £1.78m (31 March 2014: £1.33m). Since the year end we have repaid, in full, our outstanding term loan of £0.11m and are currently debt free.
The Board has also today approved payment of a second interim dividend in respect of the latter half of the year ended 30 September 2014 of 0.11 pence per share, bringing the total payment for the year to 0.21 pence per share. The dividend will be paid on 2 December 2014 to those shareholders on the register at 21 November 2014.
It is the Board's intention to bring the timing of any future dividends into line with market practice, declaring final and interim dividends at the time of our final and interim results respectively, and provide a regular basis for the timing of dividend payments. Any final dividend declaration in respect of the year ending 30 September 2015 will be announced with the final results for that year and paid following approval at the next following AGM, with any interim dividend payment for the same year scheduled to fall approximately six months before the payment of any final dividend.
Enquiries
Aukett Swanke Group Plc - 020 7843 3000
Nicholas Thompson, Chief Executive Officer
Beverley Wright, Group Finance Director
FinnCap 020 7220 0500
Corporate Finance: Julian Blunt/James Thompson
Corporate Broking: Stephen Norcross
Hermes Financial PR
Trevor Phillips 07889 153628
Chris Steele 07979 604687
