Architect returns to profit on the back of international expansion
Architect Broadway Malyan鈥檚 UK arm is back is the black after an increase in international business.
The firm reported a pre-tax profit of 拢636,000 for the year to 30 April 2012, up from a loss of 拢246,000 the year before.
In accounts filed at Companies House, Broadway Malyan Limited, which also has offices in Europe, the Middle East and Asia, reported a dip in UK revenue but a rise in revenue from overseas.
Nearly two thirds of its revenue (61%) now comes from overseas work, up from 53% in 2011.
UK revenue fell from 拢15.1m to 拢14.8m over the period. Revenue from the Middle East and Asia rose more than any other region going from 拢7.6m to 拢12m over the period. Meanwhile, revenue from Europe rose from 拢521,000 to 拢883,000 and revenue from the rest of the world rose from 拢8.8m to 拢10.4m.
In the accounts Gary Whittle, director of Broadway Malyan(pictured), said he and his fellow directors were 鈥渟atisfied鈥� with the results. 鈥淭hey consider the future prospects of the company to be sound but expect the company鈥檚 emphasis on expansion into markets outside the UK to continue,鈥� he added.
Off the back of the results the UK arm鈥檚 20 directors received remunerations totalling 拢1.9m.
The firm also grew its number of architects from 319 to 351 over the period.
The UK results come after the firm鈥檚 parent company, Broadway Malyan Holdings, which includes all its international operations, reported a fall in pre-tax profit from 拢686,000 to 拢589,000 over the period.
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