Practice says it has taken more space at existing office to accommodate increased staff numbers
The architect behind plans for the tallest building in the City at 1 Undershaft, the just started 50 Fenchurch Street tower and the ongoing Salisbury Square redevelopment off Fleet Street saw revenue and profit rebound last year.
Turnover at Eric Parry Architects went up by half to 拢12.4m in the year to July 2023 while pre-tax profit climbed from 拢358,000 to 拢2.5m during the same period.
In a note accompanying the accounts, the firm said: 鈥淥ur workload forecast for the coming years is strong. We are expecting a period of growth in the coming financial year [to July 2024].鈥�
It attributed its booming revenue directly to its projects at 1 Undershaft, 50 Fenchurch, being built by Multiplex, and Salisbury Square which is being carried out by Mace.
>> See also: Is the City set for a new tower boom?
In the accounts, signed off last week, the practice said it had made a 鈥渟ubstantial鈥� investment in IT equipment and office furniture during the year to accommodate a workforce which grew nearly 20% to 89 people.
It added that it was taking more floor space at its address in the City of London to accommodate its expanding team.
The firm said cash and cash equivalents at the year-end amounted to 拢3.9m, up from 拢878,000 last time.
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