International engineer Ove Arup Partnership defied fears of a worldwide recession by logging a 69% jump in pre-tax profit to 拢4m for the year to 31 March 1999.
The 拢4m is what is left after 拢10.6m was distributed in a staff profit-sharing scheme. Ove Arup's 4500 staff receive the money in the form of two bonuses in July and November. The figure for the previous year was 拢7.3m.
Worldwide turnover increased 23% to 拢266m. Within this figure, turnover rose 31% to 拢93m in Asia, 26% to 拢24m in North America, 21% to 拢17m in Europe, and 16% to 拢129m in the UK.
During the past year, Ove Arup has opened offices in Shanghai, Bangkok, Warsaw, Boston and Detroit. It also set up a "global business desk" in New York where account managers are assigned to major international clients, such as banks and pharmaceuticals companies.
Ove Arup is drawing up a five-year business plan to take it to 2004.
