Staff cuts help Aukett Fitzroy narrow losses

17th Jun 2010 10:34

Staff and overhead reductions helped architect and interior design group Aukett Fitzroy Robin reduce losses in the six months to March 31 despite a sharp fall in revenues.Pre-tax losses narrowed to £239,000 from £858,000 the previous year on revenues that halved to £4.1m £8.2m.Revenue in the UK fell to £3.3m from £5.5m.'Whilst revenues have continued to fall, due to the reduced demand for professional services and the ongoing standstill on some projects, we have managed our expenditure downwards by more than the revenue fall,' the company said.It said it was well placed to benefit from any sustained upturn as confidence and funding returns to the property development market. It said that the anticipated reduction in public sector spending over the next few years is unlikely to have any direct impact on the UK operation as less than 5% of revenue is from this source.