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14:54 09/05/24
2 2월 2024
Auket Swanke Group Plc
("Aukett Swanke", the "Company," "ASG", or, together with its subsidiaries, the "Group")
상업 업데이트
Aukett Swanke (AIM: AUK), the group providing Smart Buildings, Architectural and Design Services, is pleased to provide the following pre-close update ahead of its audited results for the year to 30 September 2023 ("FY 2023"), expected to be announced in March 2024.
거래 업데이트
Unaudited management accounts indicate that in the year to 30 September 2023 the Group made a small pre-tax profit, before acquisition-related exceptional items, on revenue of approximately £14 million (FY 2022: £7.1 million). For the current year (FY 2024) we expect the Group's performance to remain second half weighted.
Bank Finance and Property Update
The Company is also pleased to report a new 12-month funding facility for its subsidiary Torpedo Factory Group Limited ("TFG"). This is secured on The Old Torpedo Factory (the "Property") in west London, which is currently listed for sale.
The new facility comprises a £1.40 million loan, of which £1.36 million is interest only and £0.04 million is repayable on a monthly basis. This refinances and replaces an existing mortgage on the Property which was due to expire on 7 February 2024.
Offers have been received for the Property but no sale has yet been agreed. The new facility will allow the Group to continue to progress these and other discussions to sell the Property in an orderly manner. The Property was independently valued at £3.08 million in July 2023, but in line with current market conditions the directors anticipate the sale price will be below this level. The Company will further update on progress in due course.
TFG also has approximately £0.9 million of CBILS-backed loan finance outstanding, which is repayable monthly over the period to July 2026. This is unaffected by the new facility.
The Group's only other bank borrowings are a separate CBILS-backed loan of approximately £0.1 million, which is due to be fully repaid by May 2024, and an overdraft facility of £250,000.
Disposal of Turkish Operations
The Group also reports that on 27 December 2023 it completed the disposal of its loss-making Turkish subsidiary, Aukett Swanke Mimarlik ("ASM", previously Swanke Hayden Connell Mimarlik) to ASM's management, for a nominal sum. ASM has entered into a Name Licence Agreement, which provides for licence fees to be paid based on revenue generated. Revenues, trading losses, and assets subject to the disposal are not material given the Group's size. The Group will record a loss on disposal which will be less than £0.1 million.
The Group currently retains its two German architecture investments, which remain profitable and from which the Group receives management fees and dividends.
Nick Clark, Chief Executive, commented:
"We are pleased to have returned the Group to full year operational profitability after several years of losses. Looking ahead to the current financial year, we expect the enlarged Group to report record revenues, with the second half performance as usual stronger than the first half. The successful sale of our freehold property would eliminate our net debt, enabling us to accelerate our smart buildings strategy."
Contacts
Auket Swanke Group Plc + 44 (0) 20 7843 3000
클라이브 카버 회장
최고 경영자 닉 클락
Strand Hanson Limited, 재무 및 지명 고문 + 44 (0) 20 7409 3494
리처드 존슨, 제임스 벨만
제우스 캐피털 리미티드, Broker + 44 (0) 20 3829 5000
사이먼 존슨, 루이자 와델
Investor/Media + 44 (0) 7979 604 687
크리스 스틸
Aukett Swanke Group plc 소개
Aukett Swanke Group은 건축 서비스 분야에서 탄탄한 기반을 갖추고 있으며 런던 상장 스마트 빌딩 및 관련 서비스 제공업체가 되기 위한 변혁의 여정을 진행 중입니다. ASG는 현대적인 건물을 운영하는 기술 시스템이 처음부터 구조의 필수적인 부분으로 설계되도록 하는 독특한 위치에 있습니다.
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