Aukett Fitzroy Robinson says that it has more than halved its loss in the year to September 2010.
The architect reported a loss of £1.88m in the year to September 2009.
Aukett says that it has also generated £1.5m in cash from operations in the past year. That means that net cash is £125,000. There is a further £900,000 to come into the company when UK properties are sold.
Aukett indicates that some commercial projects in the UK that had been delayed may start again. There is also a revival of interest in Russia and the Middle East.
At 3.5p a share, Aukett is valued at £5.1m.
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