Architect reveals losses for the last three months despite contract wins by recent acquisition Fitzroy Robsinson.
Architect Aukett has begun implementing measures to cut costs after revealing three months of losses.
The firm, which acquired rival Fitzroy Robinson in April, said that while the new business had been winning a significant number of projects this had not been mirrored on the Aukett side, resulting in a group loss. The board has now agreed an action plan to reduce costs.
Chief executive Nicholas Thompson said: “The overall number of project enquiries across the enlarged group has increased post acquisition. However, while the majority of the pre-acquisition prospects have converted into real projects within the Fitzroy Robinson business, this has not been the case on the Aukett side.”
Interim results for the period up to March 31 2005, before the acquisition took place, show a slight improvement on last year. Pre-tax profit was £43,000 compared with a £175,000 loss in 2004, whilst turnover rose 7% from £5.5m to £6m.
