Annual numbers to September from Aukett, the European building design practice, were its 'poorest for many years'. Pre-tax profits of £480,000 surrendered to a £2.45m loss on a lower turnover of £15.6m (£21.75m), the dividend was passed and net gearing rose to 217% (38%). Aukett's figures were hit by deferred decisions on new projects, delayed start-ups of contracted projects, and the adoption of tougher new accounting rules regarding the treatment of pre-contractual costs at the half year. Aukett was among the first to adopt the new Urgent Issues Task Force rules which mean pre-contract work has to be 'virtually certain' rather than 'reasonably certain' before it can be carried as work in progress. Recent business highlights include appointment by Arlington Securities to design the new National Air Traffic Services facility near Portsmouth and by Development Securities for the new headquarters building for South Cambridgeshire District Council. Successful transport sector wins include surface stations on the North Kent Line Eastern Route and a number of refurbishments on the London Underground. Encouragingly, chairman Ian Mavor insisted the return to profit in the fourth quarter of the year has been sustained in the early part of the new financial year. Uninspiring numbers, but the shares could be worth a look as a recovery play.