Architect firm Benoy has recorded a 拢3 million hike in profits after focussing its projects outside of Europe.
The London-based firm, which carries out more than 80 per cent of its work in the Middle East, China and India, recorded pre-tax profits of 拢3.5 million in 2010 鈥� nearly seven times higher than the 拢512,000 banked in 2009.
Revenue amassed for projects outside the EU came to 拢22.8 million 鈥� compared to 拢18.9m in 2009 鈥� while turnover for work in the UK fell 10 per cent to 拢2.3 million. Revenue from EU member states was 拢1.3m - down 拢660,000 from 2009.
The firm, which recently signed four contracts in China worth 拢10 million and a 拢1.5 million contract with Indian developer Supertech, operates three offices in China 鈥� Beijing, Shanghai, Hong Kong - and one in India鈥檚 capital Mumbai. Last month Benoy set up an India team to work out of its London office to help support its projects in Mumbai.
As well as recording a 拢3 million increase in profits, staffing costs at the firm also fell by 拢839,000 over the year. The highest paid director, Graham Cartledge, took home 拢605,000 last year compared to 拢3.7 million in 2009.
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