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.
During the year we have taken steps to reduce our staffing levels, particularly in the UK, to reflect our view of the anticipated reduced level of activity in the market.
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.
Nevertheless, we remain confident that our ongoing strategy, focus on strong cost controls and an increasing international operational base will prove beneficial.
Aukett Fitzroy Robinson Group Plc
Nicholas Thompson, Chief Executive Officer 020 7636 8033
Duncan Harper, Finance Director
FinnCap 020 7600 1658
Sam Smith / Clive Carver
Adventis Financial PR 020 7034 4759
Chris Steele / Tarquin Edwards