07:00 Mon 04 Nov 2019
Aukett Swanke Group - Trading Update
Trading Update and update regarding Aukett Swanke Moscow
The Board expressed the view that second half trading would be profitable and that this should result in recovering the first half loss to show a positive result at the year end. The Board is now pleased to be able to confirm that this remains the case and that the Group will achieve a profit for the full year to
At the same time the Board can confirm that year end cash stood at
Trading in the new financial year has been stable though we remain vigilant regarding possible adverse impacts as a result the forthcoming General Election and prolonged Brexit negotiations.
Since the year end we have also sold the Group's subsidiary in
Commenting
"The recovery from the large loss in 2018 is a tribute to the perseverance of the staff in all of our operations and in the internal rigours of reducing cost during a difficult trading period.
The process to find a suitable successor to carry on the Russian business in our name has taken some considerable time to realise. Critically, the sale has safeguarded the interests of our staff in
Enquiries
Nicholas Thompson, Chief Executive Officer
Robert Fry,
Tony Barkwith, Group Finance Director
finnCap 020 7220 0500
Corporate Finance: Julian Blunt/Giles Rolls
ECM: Alice lane
Investor /Media Enquiries 07979 604687
Chris Steele
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