International architect predicts results in line with expectations after making provision for possible credit crunch-related problems
Architect Aukett Fitzroy Robinson has indicated that it may have to make provisions against projects with funding issues when it reports its full-year results.
However, in a trading update today, the international firm said it remains confident that its end-of-year results will be generally in line with market expectations. It also confirmed that it has taken steps to reduce staffing levels during the year, particularly in the UK.
In its statement, the firm said: “The company is pleased to report that trading in the second half of the year progressed reasonably despite the turmoil in global financial markets. After taking account of any provisions which might be required against specific projects with funding issues we remain confident that our year-end result will be generally in line with market expectations.”
It added: “The fall-out from the credit crunch is now being felt across our network of international offices. Our group order book remains strong but we cannot predict, with certainty, which projects will continue in the present economic climate.”