Mallett : Sweett Group revenues fall

International construction and property consultancy Sweett Group's revenues fell to £42.5m in the six months to the end of September - down from £44.4m last time. Results on a GAAP basis, show operating profits falling to £0.6m from £2.0m and pre-tax profits falling to £0.3m from £2.8m. Core trading profit under non-GAPP measures was stable at £1.4m while adjusted operating and pre-tax profits fell to £1.6m and £1.4m respectively - down from £2.7m and £3.5m last time. Chairman John Dodds said: "As we announced on 6 November 2014, trading in the first half of the financial year has reflected good progress in our UK market which accounts for over half of the Group's turnover and mixed trading in our overseas businesses. "In addition, a business operations review has taken place following my appointment as chairman and a strategic review is due to commence shortly. Regardless of the outcome of the strategic review, the focus for the Group going forward will be on profitability, cash generation and margins." Story provided by StockMarketWire.com