Troubled architect SMC has said the deteriorating market conditions have not affected its workload.
The practice is undergoing a restructuring after a run of poor results and the departure of Stewart McColl, its founder and former chief executive.
In a trading update for the six months to 30 June, it said the risks it faced in the UK private sector over the first half of the year were offset by a growing number of wins in public sector and overseas projects.
SMC said it had limited exposure to the residential market, which accounted for less than 11% of its future order book. It has secured 90% of its 2008 order book and 40% of its anticipated workload for 2009.
Non-UK work now accounts for 14% of its order book, a rise of 125% on last year.
No comments yet