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Aukett Fitzroy Robinson

  • BY: Andrew Hore |
  • POSTED: 23/10/2008 |

Aukett Fitzroy Robinson says that its full year profits will be in line with expectations of £2.5m even after any provisions it needs to make.

The architect has reduced its staff numbers in order to reflect the potential weakening market activity.

The group order book is still strong but it is difficult to predict whether any of these projects will be deferred or stopped.

According to house broker FinnCap, Aukett is likely to suffer a cash outflow of £1.3m in the year to September 2008. There should still be net cash of £500,000.

FinnCap has reduced its 2008-09 revenue forecast by 15% to £20.5m - down from an estimated £23m in 2007-08. The profit forecast is being cut from £2.6m to £1.8m.

Shares in Aukett were unchanged at 6.75p each, which values the company at £9.83m. The shares are trading on less than eight times forecast earnings for 2008-09. The forecast yield on a dividend of 0.28p a share is 4.1%.

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