- Aukett Swanke Group slashed annual losses as cost cuts helped offset a marginal slip in revenues.

For the six month period ended 31 March, pre-tax losses narrowed to £0.371m from £1.22m loss despite revenues falling to £7.30m from £7.41m.

Costs, by contrast, fell by 9% to £352,000 as a result of reductions in most overhead categories including property.

'Every section of the construction industry continues to struggle with the slowdown arising from the uncertainty presented by the current political and economic climate around the world; but we are pleased to show an improvement in our figures as a result of the vigorous actions taken by our management teams in the reorganisation and restructuring of the business and have every expectation of a return to profitability in the near future,' the company said.

At 1:35pm: [LON:AUK] Aukett Swanke Group PLC share price was +0.05p at 1.73p

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