Archial announces rise in profits
The Archial Group has released its preliminary results for the year ending 2008, revealing a small profit of £1.5 million after a loss of £5.2 million the year before
Chris Littlemore, Archial chief executive, told the AJ that a ‘client-focused’ approach and changes in the management structure, together with greater diversity, was responsible for the turnaround.
The boost in profits has been aided by a cost-cutting drive, which has seen 10-15 per cent of staff leave the company and pay cuts ranging from 3 per cent to 8 per cent taken across the firm.
Turnover, however, dipped in the last year, from £44.17 million to £42.47 million.
Littlemore did admit that there is no guarantee the group will not make more redundancies in the future due to the economic crisis. ‘In this business plan, there are areas where we might look to make greater efficiencies. But I would like to think we are well-placed in the architecture sector,’ he said.
‘Yes, it’s a challenging market, everyone knows that. Any responsible business has to judge where their cost base lie.’