Architect SMC fell 拢5.2m into the red in 2007 after a disastrous first-half of the year that accounted for 拢4.5m of the loss.

Its poor performance was blamed on too many underperforming acquisitions in a short space of time. After several profit warnings, the share price plummeted from 193p in January to 8p in December 2007.

The loss followed a pre-tax profit of 拢1.7m in 2006. Thanks to the acquisitions, turnover grew 42% from 拢31.2m to 拢44.2m.

A rights issue in January raised more than 拢13.3m to pump back into the company, which it said had provided the business with 鈥渁 restructured business platform from which to move forward and grow profitably鈥�.

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