Bonanza year at Aukett Associates as profits soar

Aukett Associates, the public “one-stop shop” consultancy which carries out architectural, graphic and interior design work, has doubled its annual operating profit and increased its pre-tax profit tenfold.

The group’s preliminary results for the year to 30 September show income increased from 5.8m in 1996 to 6.6m. From this, operating profit has grown from 236 000 to 475 000. Pre-tax profit has rocketed from 30 000 to 331 000. A spokesman says capital brought into the company last year through a rights issue has now “started working”. An operating margin of 9.5 per cent, the best since 1991, was achieved during the second half of the year.

Gearing, a measure of the group’s level of borrowing compared to its income, has been reduced. Aukett chairman Gerry Deighton says the board is committed to reducing borrowing further over the next financial year, and that as a result no dividend has been declared.

These factors, combined with strong trading and efficient working, are credited for the improvement in performance, says the spokesman.