Amount split between 154 staff at Bloomberg building architect
The 154 partners at Foster & Partners have shared a bumper bonus payment of more than 拢31m, the firm鈥檚 recently filed accounts have revealed.
The architect said it had paid out close to 拢34.5m in exceptional items for the year to April 2020 and in a note said it had made a 鈥渞estructuring bonus鈥� of 拢31.4m. The amount works out at an average of just under 拢204,000 per partner.
It added that a further 拢3m had been paid out in professional fees and stamp duty as part of the restructuring.
The restructuring was approved in July 2019 and, according to notes accompanying the accounts, 鈥渋nvolved a newly incorporated company becoming the ultimate parent of the Group by the acquisition of the entire share capital of the former ultimate parent company鈥�.
The practice behind the 2018 Stirling Prize-winning Bloomberg building said turnover in the year was up 5% to 拢272m with pre-tax profit falling from 拢21.5m to 拢11.9m. The number of employees was up 9% to 1,424.
Its biggest market during the period was the Middle East with around one third of its business from the region. Income from the UK fell from 拢24.5m to 拢15.8m.
In his chairman鈥檚 statement, practice founder Norman Foster (pictured) said the covid-19 crisis 鈥渉as tested our resiliency as a practice鈥�.
But he added: 鈥淲e have surprised ourselves by a collective ability to not only survive but to perform beyond all expectations.鈥�
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