First half revenues at Aukett Swanke Group - the international practice of architects and interior design specialists - fell by 9% to £9.1m in the six months to the end of March.
The group posted an after-tax loss of £345,000 (2016: profit £466,000) which had been offset by a settlement claim in respect of a recent acquisition in the sum of £572,000.
Chief executive Nicholas Thompson said: "All group operations have worked hard to maintain revenues during the period although some markets have continued to weaken, resulting in decreased earnings.
"This coupled with some specific write downs offset by claim recoveries, has resulted in losses which has hampered the development of our three hub structure.
"We are, however, pleased to report that we have maintained our liquidity strength."