Shares digital

Aukett Fitzroy Robinson (AUK:AIM) – Finals PTP: £2.4m (£0.8m) Divi: 0.2p (n/a)

A failed merger with SMC (SMC:AIM) last summer left the architectural firm stronger as the improving quality of its business was revealed. Turnover and profits soared in 2007, 21% to £19.7 million and two fold to £2.4 million respectively, and the firm returned to paying a dividend, which is 0.2p a share for the year. The hotel and retail divisions performed strongly and so did the Russian operations. The merged entity has been able to catch increasingly large projects despite the lack of experienced staff that is affecting the sector. Earnings visibility is good and the company ended the year with £1.7 million net cash, however the company says it is ‘cautiously optimistic’ given the current uncertainty in the construction sector.

Shares says: Albeit at a slower pace, the expansion should continue. Wait for further confirmation.

by: Carlo Svaluto