Architect鈥檚 pre-tax profit quadrupled to 拢2.7m in a year which saw the practice land a string of major commissions
Wilkinson Eyre鈥檚 pre-tax profit quadrupled to 拢2.7m after a bumper year which saw the practice land a string of major commissions.
The architect鈥檚 turnover also rocketed by 60% in the year to March 31, 2014, bringing it to 拢14.8m.
Staff numbers grew by 24 to 141 in the same period.
The six directors鈥� pay packets went up by 48% to a total of 拢1.26m, with the highest-paid, but unnamed, director鈥檚 pay increased by 53% to 拢180,000. Both figures exclude pension contributions.
The firm鈥檚 work is spread across sectors and continents, from Canada to Australia via China, though the vast majority of turnover is generated in the UK.
Director Jim Eyre said 鈥渆ven if a further downturn in the wider economy means that no further projects are won, a reasonable level of income for the next few years is assured鈥�.
He also revealed they were beginning to look at succession and, as a result, group directors had been 鈥渋ncentivised by further share awards this year,鈥� a practice it expects to continue.
In its annual report, published yesterday, Eyre wrote: 鈥淭he UK economy finally moved out of recession this year, as demonstrated by the number of new projects secured during the year which has resulted in a significant increase in both turnover and staff numbers.
鈥淐ompared with recent years fewer staff have been engaged in non-fee paying competitions and tenders with the vast majority being utilised on paid commissions.鈥�
The practice won four major commissions following invitations to enter international design competitions: the second phase of the Battersea Power Station redevelopment (pictured below); the (AUD)$2bn (拢1.1bn) Barangaroo casino development in Sydney (pictured above); a large commercial development in Toronto; and a tower next to the Cheesegrater in the City of London for Japanese corporation Mitsubishi.
Also in London it was appointed by Land Securities to design offices above Liverpool Street Crossrail station - another Wilkinson Eyre project - and won design competitions at City and Queen Mary universities.
Across the Channel, it won the job of designing a cable car for Toulouse and the St Lazare Road Bridge in Paris.
It said its Shanghai office remained busy with a metro station and masterplan in Beijing and the 330m Golden Triangle tower in Wuhan.
No comments yet