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Aedas maintains strong financial position despite dip in profits

Aedas Architects has recorded yet another strong financial year, despite its pre-tax profits dropping by 8 per cent.

The global heavyweight published results of £1,576,149 - a £145,900 loss on the previous year's total of £1,722,049.

According to the practice, the reason for the dip is due to heavy investment in new offices around the world.

Joint managing director Peter Oborn said: 'This document clearly indicates that Aedas' gross margin is maintained in line with turnover - and this maintains our position as one of the leading practices in the world, as published by The Architects' Journal in the AJ100.

'The report is for Aedas Architects and the overall strategy for the practice is to continue to expand internationally. Our investment in new international offices throughout Europe, the Middle East and Central Asia has incurred administration expenses - investment is an expensive undertaking.

Oborn added: 'We are excited about the returns Aedas is expecting to see in future years as a result of this investment.'

Aedas has recently started work on a mixed-use development in Almaty, Kazakhstan (above), which it says is an example of its ongoing work in its new international regions.

by Richard Vaughan

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