AHMM's turnover balloons 45%
AHMM is to introduce a profit share scheme for its 250-strong workforce after posting huge increases in turnover and profit
The practice, which broke into the AJ100 top ten for the first time earlier this year, saw its turnover balloon 45 per cent from £12.4million in 2012 to £18.05m in the 12 months to 31 March 2013.
As well as adding 70 architectural staff during a ‘successful year’, the practice has also seen its before tax profits almost triple from £840,000 to £2.14 million after landing a slew of major jobs including the Metropolitan Police Service’s new HQ on Victoria Embankment, London (see AJ 14.10.13).
The company, which filed its annual accounts today (9 December), also picked up a 30,000m² office and housing redevelopment in Shoreditch in August, won the contest to overhaul the former Guardian HQ in Farringdon and is working on the revamp of BBC Television Centre in west London.
In November the AJ100’s fastest-growing practice was asked to make its huge, already consented Google headquarters at King’s Cross even ‘more ambitious’.
Managing director, Peter Morris, said: ‘As a result of the sustained performance of the business over the past three years, the directors are [introducing] a formal profit share scheme for the benefit of all employees…. [a move] which reflects our belief in the broad benefits of being professional in everything we do.’
He added: ‘[There has been] a number of significant developments for the practice in 2013 including moving the 250-strong London office into a purpose-built rooftop office in Clerkenwell, a doubling of the Bristol office to 35 architectural staff and the secondment of one of our London-based Associates to head up our office in Oklahoma City.
’‘The practice’s turnover has shown a strong increase of 45 per cent over the previous year reflecting a pick-up in development and construction activity and this, along with a careful focus on cost management, has seen a rise in our pre-tax profit margin to 12% (2012: 6.8%).’