Country鈥檚 biggest architect now employs close to 2,000 people
The country鈥檚 biggest architect saw turnover break the 拢400m barrier for the first time last year and staff numbers edge up to the 2,000 mark.
Latest accounts filed by Foster & Partners at Companies House show that income was up 29% to 拢422m with staff numbers up 11% to 1,900.
The firm, whose UK schemes include the Ellison Institute of Technology鈥檚 research and development facility at Oxford to be built by Laing O鈥橰ourke and a masterplan job as part of the redevelopment of Manchester United鈥檚 Old Trafford stadium, said pre-tax profit doubled to 拢2.3m in the year to April.
Fosters鈥� earnings before amortisation, depreciation and a partnership payment of almost 拢20m to its 200-plus partners was 拢44m 鈥� down from 拢55m last time.
The 拢19.8m partnership payment is shared between all 220 senior partners and partners and is in addition to an annual bonus, the firm said.
The architect鈥檚 biggest business is the Middle East where it posted an income of 拢177m, up by half on last time and around 42% of its entire group workload. Income from its UK business stayed flat at 拢38m.
Fosters, whose largest shareholder is the Canadian private equity firm Hennick & Company which over the summer bought a stake in Gardiner & Theobald, said it would pay a 拢24m dividend, up from 拢14.6m last time.
The accounts also reveal it spent 拢900,000 on restructuring costs.
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