Architect鈥檚 UK turnover rises by nearly a fifth, but overseas revenue falls
The rebounding South East England residential development market has helped Broadway Malyan mask a drop in overseas turnover, the practice鈥檚 annual results show.
According to its accounts for the year to 30 April 2014, which were published last week, Broadway Malyan鈥檚 total turnover was up 2% from 拢43.2m the previous year to 拢43.9m.
Pre-tax profit increased at a much faster rate from 拢286,000 to 拢1.38m over the same period.
The steady improvement in revenue was principally driven by an increase in turnover within Broadway Malyan鈥檚 UK business, which increased 19.6% from 拢17.8m in 2013 to 拢21.3m this year.
The UK business accounted for 48% of overall turnover in 2014 compared to 41% in 2013. Writing in the accounts, managing director Gary Whittle said that the stronger performance of Broadway Malyan鈥檚 British operations had been underpinned by the company鈥檚 鈥渟trong reputation鈥� in the UK housing market - particularly in the London and the South East.
Revenue in Broadway Malyan鈥檚 other powerhouse region - Middle East and Asia - dipped slightly from 拢15.7m in 2013 to 拢15.4m.
Revenue from the rest of the world nearly halved from 拢7m to 拢3.9m
However, the increased turnover in Europe and the UK compensated for the drop in these regions.
Overall turnover for Broadway Malayan鈥檚 overseas operations was down 拢25.4m in 2013 to 拢22.3m.
Projects completed by the practice this year included the 拢26m redevelopment of Birmingham鈥檚 National Indoor Arena which was officially launched as the Barclaycard Arena last week with a concert by Grammy award winner Michael Buble.
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