Profits and revenue up at new owner of GMW
Growing overseas work and a recovery in UK construction helped new GMW Architects owner Scott Brownrigg post a near one third hike in workloads last year.
The firm snapped up GMW in August which has been going for close to 70 years and whose building at 1 Undershaft in the City of London 鈥 the first in the Square Mile to be taller than St Paul鈥檚 Cathedral when it was completed in 1969 鈥 will be torn down to make way for Eric Parry鈥檚 proposed 73-storey replacement.
Turnover at Scott Brownrigg was up 28% to just over 拢19 million in the year to July 2015 with pre-tax profits more than doubling to 拢2.5 million from 拢1.1 million last time.
The firm carries out the majority of its work in the UK with revenue here rising from 拢13.8 million to 拢17.4 million. But work from outside the UK was up by nearly a third to 拢1.6 million.
In a statement accompanying the accounts, signed by chairman Jonathan Hill, the practice said new offices in Edinburgh and New York had helped with the figures while it added that it was eyeing new areas of business. 鈥淓nergy generation, big data, nano science, 3D printing, advance robotics and life sciences are all emerging as areas of focus,鈥 Hill said.
Hill also said GMW鈥檚 airport work, including a scheme at Istanbul, 鈥渨ill provide an opportunity for the practice to re-enter the aviation sector with a prestigious airport design that will be completed by 2018鈥.
Staff numbers went up 29% to 217 by the year end 鈥 although this is now around 280 following the GMW takeover which was completed after the year end 鈥 and the firm鈥檚 wage bill increased from 拢7.2 million to 拢9.6 million as a result. In his statement, Hill said the firm, which is behind a new headquarters building (pictured) for tech firm Gartner in Surrey, had controlled costs 鈥渨ell鈥 in the year. He added: 鈥淭his is particularly encouraging in light of the growth in turnover and staff numbers.鈥
The salary of the highest paid director, who is not named, was up 拢35,000 to 拢195,000.
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This story first appeared on 黑洞社区 Design
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