Initiative introduced by chancellor Rishi Sunak wound down last September

The final set of accounts filed by Hoare Lea as an independent company show it paid back more than 拢850,000 in furlough money last year.

The M&E consultant was bought last summer by Tetra Tech for an undisclosed sum.

The $3bn turnover California-based firm first made its approach in early 2019 but due diligence and the pandemic slowed the acquisition process down to a crawl.

rishi sunak

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Introduced in March 2020 by chancellor Rishi Sunak, the furlough initiative was ended last September

In its latest set of accounts, Hoare Lea said it received 拢867,000 from the government鈥檚 Coronavirus Job Retention Scheme in the 15 months to 25 July 2021.

But the firm, which employed 859 people during the period, revealed it had 鈥渧oluntarily repaid鈥 all the money back to HMRC it had been handed during the period.

The reporting period of the latest accounts was extended to 25 July because of Tetra Tech鈥檚 deal, with the company formally acquiring Hoare Lea the following day.

Hoare Lea鈥檚 turnover in the period was 拢103.4m, compared to 拢90.4m for the year to April 2020 鈥 a like-for-like fall of 8.5%.

And profit was also down, with the firm filing a 拢23m pre-tax profit in the 15 months to 25 July, which it said was a 13% fall on the 拢21m it made in the year to April 2020.

The bulk of its turnover is from the UK with 拢96.5m of income, with remaining revenue coming from Europe and the Middle East.

In 2019, Tetra Tech paid close to 拢40m for WYG which last year dropped its historic WYG marque. Tetra Tech racked up a near 拢3m bill in restructuring costs following the WYG deal, accounts show.

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