Design, architecture and engineering consultancy Aukett Europe has blamed its recent profits cave-in on the IT and telecommunications downturn. But it maintains that it will not be cutting UK or European staff as a result.
On 27 March Aukett’s share price plummeted 36 per cent to 9.25p following the announcement that profits in the half-year to 31 March would be less than half of last year’s £953 000.
“This is a slowdown in growth, we are not going into a loss,” according to finance director Robert Warner, who attributes the slowdown to a less than successful period for the retail side of the company.
Warner adds, “A major part of our strategy is to continue to open new offices in Europe.”