Final Results

Aukett Group PLC
28 January 2002

                              AUKETT GROUP PLC
                     2001 PRELIMINARY RESULTS ANNOUNCEMENT
             Pre-tax profits in line with expectations at £917,000

Aukett Group Plc ('Aukett'), one of Europe's leading building design practices,
with offices in 14 cities in 10 countries, announces Preliminary Results for the
year ended 30 September 2001.

Financial Highlights
Year ended 30 September                                                2001              2000            change

Work done, including share of JV's and associate                    £22.66m           £20.87m           +    9%

Group work done                                                     £19.43m           £18.87m           +    3%

Profit before tax                                                    £0.92m            £2.05m            -  55%

Earnings per share                                                    0.64p             2.13p            -  70%

Dividends per share                                                   0.15p             0.40p            -  63%

Net assets                                                            £4.06            £3.67m            +  11%

Net gearing                                                             33%               32%

Commenting on the results, Chairman Andrew Lett said:

'Whilst results for the year are broadly in line with revised expectation,
overall the year has been disappointing. The slowdown and deferral of major
projects, particularly in the UK, which was reported in our interim results, has
continued throughout the second half of the year.  European operations, however,
have continued to progress overall this year, both in terms of increased
turnover and contribution to Group profit.'

Other Key Points
*     Proportion of work done outside the UK increased to 31% (2000: 29%)
*     Share of profit generated from outside the UK increased to 40% of total (2000: 30%)
*     No final dividend, after interim dividend of 0.15p
*     Projected order book more solid towards second half of 2002

Regarding future prospects, Andrew Lett said:

'The year 2001/02 will be one of consolidation of existing operations and close
control of the debtor and cash position, with the tough trading conditions
experienced during the first quarter of this financial year likely to continue
for some time. The projected order book looks more solid towards the second half
of the year, by which time there may be a more confident general economic
climate on which to build.  However, whilst the immediate future will be much
influenced by the timing of any general economic upturn, the Company will
continue with its strategy to develop as a major international provider of
design consultancy services.'


Enquiries:

Aukett Group Plc (website: www.aukett.com)               Tel: [phone]
Andrew Lett, Executive Chairman
Robert Warner, Finance Director                          (mobile: [phone])
Binns & Co PR Ltd
Peter Binns, Simon Ellis, Carole Butcher                 Tel: [phone]

Introduction

This has been a year of mixed fortune for Aukett Group Plc.  Whilst results for
the year are broadly in line with revised expectation, overall the year has been
disappointing.  The Company issued a trading statement in March 2001, when it
became clear that the downturn in the IT sector, and the recessionary trend that
subsequently affected the US economy, would adversely impact the Group's growth
projections and profit for the year.  The slowdown and deferral of major
projects, particularly in the UK, which was reported in our interim results, has
continued throughout the second half of the year.  European operations however
have continued to progress overall this year, both in terms of increased
turnover and contribution to Group profit.

Investment was made during 1999/2000 in new offices, both overseas and in the
UK, in anticipation of continued growth.  This preceded the general decline in
business confidence we have experienced this year in the UK and the costs
associated with this expansion have contributed to a reduction in profit levels
compared with previous years.  The Board believes however that the investment
undertaken will provide a valuable platform for future growth.

The tough business climate, as evidenced throughout the year, was not improved
by the events of 11th September 2001.  Confidence has remained low and
predictions for the global economy, particularly in the USA, have remained
uncertain.  During this period we have continued to experience delays in the
commissioning of new projects and the generally adverse business climate has led
to slower debtor collection and increased pressure on cash flow, which has
continued since the financial year end.  As a result the Company has been
required to seek an increased level of support in its banking facilities.  I am
pleased to report that additional facilities have now been agreed with our
bankers which will allow the Company to respond to the current climate, without
compromising the strategy that has been put in place for the future.

Results

Work done, including share of joint ventures and associate increased by 9% to
£22.66million (2000: £20.87 million).  Profit before tax decreased to
£0.92million (2000: £2.05million).  Earnings per share fell to 0.64p (2000:
2.13p) and gearing has risen slightly to 33% (2000:32%).

An interim dividend of 0.15p per share was paid during the year.  The Board is
not recommending the payment of a final dividend.

Strategic review

The Group has sought during the year 2001 to consolidate its existing
activities.  European offices, which have been the focus of recent investment,
are still relatively 'new' and are inevitably at the beginning of their
development process.  However, there are encouraging signs that future levels of
business can be both significant and profitable and we already have an
indication of the potential of these economic regions of Europe.  Whilst
progress has been made in our European operations, strategically the UK remains
important for the Group as a whole.  Approximately half the resources of the
business are based in the London office and the critical mass and range of
skills available underpin the Group's operations.  In this context, performance
in the UK this year has been unsatisfactory with minimal growth in turnover and
lower margins compared with the previous year.  However, during the year the
cost base in the UK was reduced and is now commensurate with the level of
business that can be anticipated for the coming year.  This inevitably has meant
a reduction in staff numbers, which regrettably has been necessary.

Employees

Consultancy is a people business and the skill, drive and enthusiasm of
individuals and teams is critical to the on going success of the Group.  We will
continue to encourage more ownership of the Company by individuals and to this
effect a new all employee share option scheme is being implemented in addition
to our existing executive share option scheme for senior staff.

The Group continues to deliver work of an extremely high quality, which is much
valued by our clients and in turn helps to strengthen our reputation for
creative design, proactive dialogue and effective delivery.  The achievement of
such high standards should be acknowledged, and on behalf of the Board I would
like to thank our professional colleagues for their hard work and dedication
throughout the year.

New Board appointments

I am delighted to welcome Mr Ian McQuattie to the Board.  Mr McQuattie was
appointed a non-executive director of the Company on 1st July 2001.  Mr
McQuattie, a chartered accountant, is chairman of Stanco Exhibitions, a major UK
exhibition contractor, and a non-executive director of Paradigm Technology
Limited, which provides computer based solutions for the logistics market.
Until recently he was chairman of Noble Denton Holdings Limited, an offshore gas
and engineering consultancy.  Mr McQuattie brings to the Board a broad range of
experience in corporate finance and management, working with both large and
small companies in the UK and abroad.

Mr Alan Brooker will be retiring as senior non-executive director at the
forthcoming AGM.  His place as senior non-executive director will be taken by Mr
Ian Mavor.  Mr Brooker was appointed to the Board at the flotation of the
Company in February 1988.  He has been of invaluable assistance to the Board
during his time with us and on a personal note I would like to express my thanks
for his help, support and good counsel.

The Future

The year 2001/02 will be one of consolidation of existing operations and close
control of the debtor and cash position, with the tough trading conditions
experienced during the first quarter of this financial year likely to continue
for some time.

The projected order book looks more solid towards the second half of the year,
by which time there may be a more confident general economic climate on which to
build.  However, whilst the immediate future will be much influenced by the
timing of any general economic upturn, the Company will continue with its
strategy to develop as a major international provider of design consultancy
services.  The Board will be seeking to expand the sector expertise of the Group
in order to generate future growth, and opportunities will be actively sought
with a view to increasing the scale and market value of the Company, which the
Board believes will lead to a more resilient business in the longer term.


Andrew Lett
Chairman
28 January 2002


Consolidated profit and loss account
For the year ended 30 September 2001




                                                                            2001                  2000
                                                                            £000                  £000

Turnover: Group and share of joint                                        21,518                19,965
ventures

Less: share of joint ventures' turnover                                   (2,739)               (1,592)
                                                                          
Group turnover (note 1)                                                   18,779                18,373

Movement in amounts                                                          647                   494
recoverable on contracts                                                                           
                                                                          
Group work done (note 1)                                                  19,426                18,867

Group operating profit (note 2)                                            1,200                 1,931

Share of operating (loss)/profit in joint                                  (103)                   188
ventures and associate

Net interest payable by Group                                              (180)                  (67)

Profit on ordinary activities before tax (note 3)                            917                 2,052
                                                                           
Tax on profit on ordinary activities                                        (454)                 (541)


Profit on ordinary activities after tax                                      463                 1,511
                                                                           
Dividends                                                                   (109)                 (306)
                                                                             
Retained profit for the year                                                 354                 1,205

Earnings per share:

Basic                                                                      0.64p                 2.13p

Diluted                                                                    0.63p                 2.07p


Consolidated Balance Sheet
At 30 September 2001


                                                                             2001                  2000
                                                             £000            £000        £000      £000
Fixed assets
Intangible assets                                                             957                 1,011
Tangible assets                                                             1,438                 1,530
Investments in joint ventures:
                Share of gross assets                       2,910                         854
                Share of gross liabilities                 (2,872)                       (703)
                                                                               38                   151
Investment in associate                                                        74                   102
                                                                            2,507                 2,794
Current assets
Debtors                                                     7,632                       7,351
Cash at bank and in hand                                      488                         553
                                                            8,120                       7,904
Creditors falling due within one year                     (6,136)                     (6,393)
Net current assets                                                          1,984                 1,511
Total assets less current liabilities                                       4,491                 4,305
Creditors falling due after one year                                        (431)                 (639)
Provisions for liabilities and charges                                          -                     -
Net assets                                                                  4,060                 3,666
Capital and reserves
Share capital                                                                 724                   722
Share premium account                                                       1,794                 1,758
Profit and loss account                                                     1,542                 1,186
Equity shareholders' funds                                                  4,060                 3,666


Statement of total recognised gains and losses
For the year ended 30 September 2001

                                                                                 2001                 2000
                                                                                 £000                 £000

Profit for the financial year                                                     463                1,511
Foreign exchange differences                                                       31                 (66)
Total gains and losses recognised in the year                                     494                1,445


Reconciliation of movements in shareholders' funds
For the year ended 30 September 2001


                                                                            2001                 2000
                                                                            £000                 £000
                                                                            
Shareholders' funds at 1 October                                           3,666                2,502
Exercise of share options                                                     38                   25
Capitalisation of ESOT contributions                                         (29)                   -
Exchange movement                                                             31                  (66)
Profit attributable to shareholders                                          463                1,511
Dividends paid and proposed                                                 (109)                (306)
Shareholders' funds at 30 September 2001                                   4,060                3,666



Consolidated Cash Flow Statement
For the year ended 30 September 2001


                                                                         2001                  2000
                                                            £000         £000       £000       £000
Net cash inflow from operating activities                               1,379                 1,689
Returns on investments and servicing of                                  (180)                  (63)
finance
Tax paid                                                                 (427)                 (444)
Capital expenditure
Purchase of tangible fixed assets                                        (216)                 (385)
Acquisitions
Investment in subsidiary undertakings                          -                    (394)
Investment in joint ventures                                 (21)                    (34)
                                                                          (21)                 (428)
Equity dividends paid                                                    (290)                 (324)
Net cash inflow before financing                                          245                    45
Financing
Issue of ordinary shares                                       9                      25
Repayment of loans                                          (160)                   (120)


Principal repayments under hire purchase
contracts and finance leases                                (444)                   (226)
                                                            
Net cash outflow from financing                                          (595)                 (321)
Decrease in cash                                                         (350)                 (276)


Reconciliation of net cash flow to movement in net
debt
Decrease in cash for the year                                            (350)                 (276)
Cash outflow from decrease in debt                                        604                   346
New finance leases                                                       (392)                 (503)
Movement in net debt during the year                                     (138)                 (433)
Net debt at 1 October 2000                                             (1,184)                 (751)
Net debt at 30 September 2001                                          (1,322)               (1,184)

NOTES

1          Turnover and work done

An analysis of turnover and work done by geographical area of destination is as
follows:


                                                        2001                                   2000
                                United    Rest of                    United     Rest of
                               Kingdom     Europe      Total        Kingdom      Europe       Total
                                  £000       £000       £000           £000        £000        £000
Turnover
Group                           14,476      4,303     18,779         13,941       4,432      18,373
Share of joint ventures              -      2,739      2,739            376       1,216       1,592
                                14,476      7,042     21,518         14,317       5,648      19,965
Share of associate                   -        230        230              -         370         370


Total                           14,476      7,272     21,748         14,317       6,018      20,335


Movement in amounts
recoverable on contracts
Group                            1,063      (416)        647            436          58         494
Share of joint ventures              -        262        262              -          80          80
Share of associate                   -          2          2              -        (37)        (37)
Total                            1,063      (152)        911            436         101         537


Work done
Group                           15,539      3,887     19,426         14,377       4,490      18,867
Share of joint ventures              -      3,001      3,001            376       1,296       1,672
Share of associate                   -        232        232              -         333         333
Total                           15,539      7,120     22,659         14,753       6,119      20,872


2          Group operating profit

                                                                     2001                        2000
                                                                     £000                        £000
Group work done                                                    19,426                      18,867
Staff costs                                                        (9,816)                    (10,099)
Amortisation of goodwill                                              (54)                        (53)
Depreciation                                                         (670)                       (371)
Other operating charges                                            (7,686)                     (6,413)

Group operating profit                                              1,200                       1,931


3          Profit on ordinary activities before taxation

An analysis of profit on ordinary activities before taxation by geographical
area is as follows:


                                                             2001                                2000
                                   United     Rest of                  United     Rest of
                                  Kingdom      Europe       Total     Kingdom      Europe       Total
                                     £000        £000        £000        £000        £000        £000

Company and subsidiaries              546         474       1,020       1,378         490       1,868
Share of joint ventures                 -        (80)        (80)          67          66         133
Share of associate                      -        (23)        (23)           -          51          51
Group total                           546         371         917       1,445         607       2,052

4          Earnings per share

The earnings per share are calculated on the profit attributable to shareholders
of £463,000 for the year ended 30 September 2001 (2000: £1,511,000) and on
72,356,065 (2000: 70,905,936), being the weighted average number of shares in
issue during the year.

5          Amounts recoverable on contracts

Amounts recoverable on contracts, as included in debtors, exceeded payments on
account, as included in creditors by £873,000 at 30 September 2001 (2000:
£226,000).  These amounts comprise:
                                                      2001                                    2000
                       Amounts recoverable on  Payments on Amounts recoverable on      Payments on
                                    contracts      account              contracts          account

                                         £000         £000                   £000             £000
Value of work done                     20,618       14,326                 20,160            7,276
Fees rendered on
account                               (18,654)     (15,417)               (18,527)          (8,683)
                                     
                                        1,964       (1,091)                 1,633           (1,407)

                                       ======        =====                  =====            =====


6          Statutory accounts

      The financial information set out above does not constitute the Company's
statutory accounts for the years ended 30 September 2001 or 2000 but is derived
from those accounts.  Statutory accounts for 2000 have been delivered to the
Registrar of Companies and those for 2001 will be delivered following the
Company's annual general meeting.  The auditors have reported on those accounts;
their reports were unqualified and did not contain statements under section 237
(2) or (3) of the Companies Act 1985.

      The Company's statutory accounts for 2001 will include the following note
in respect of their basis of preparation:

'The Company meets its day to day working capital requirements through an
overdraft facility which is repayable on demand.  The nature of the Company's
business is such that there can be considerable uncertainty over the timing of
major projects and the commencement of cash flows arising therefrom. The
directors have prepared projected cash flow information for the next twelve
months and they consider that the Company will continue to operate within the
overdraft facility recently agreed, which expires in January 2003. On this
basis, the directors consider it appropriate to prepare the financial statements
on the going concern basis. However, the margin of facilities over requirements
is not large and inherently there can be no certainty as to these matters and,
in the event that projects are delayed or expectations included in the
directors' projections are otherwise not met, the Group may need to renegotiate
its banking facilities. The financial statements do not include any adjustments
that would result from a failure by the Group to obtain adequate future 
funding.'

7          Annual Report

            The Annual Report and Accounts is expected to be mailed to
shareholders on or before 22 February 2002.  Further copies will be available
from the registered office of the Company, 2 Great Eastern Wharf, Parkgate Road,
London SW11 4TT, or will be accessible via the Company's website at
www.aukett.com.

                      This information is provided by RNS
            The company news service from the London Stock Exchange