The firm is launching a cost cutting programme after business “may be impacted more by the Referendum than previously thought”.

Interim results for the six months to March 31 show UK revenue down to £6.7m from £7.5m last time as profits fell to £498,000 from £927,000.

Aukett said firms are not committing to projects until after the vote and other instructions have clauses inserted in them depending on the decision.

The company said: “These results also reflect the early impact of the EU Referendum in June 2016 which is typified by two negative characteristics: firstly apprehension at committing to significant post planning services (we have 2m ft² of developments – all with planning consents outside London in this category), and a more specific anomaly with Heads of (leasing) Terms including ‘Brexit’ clauses.”

It added: “Economic data on the state of the UK construction industry performance and direction is inconclusive which has meant that our revenues are reverting to our core markets’ strengths as peripheral sectors find new business in short supply.

“Management is now focused on rebalancing the cost profile of the business to reflect the current slowdown which may be impacted more by the Referendum than previously thought.

“Encouragingly our new work enquiry rate remains buoyant and we expect new instructions to flow through from July.”