Foster + Partners posts huge profits
Foster + Partners has increased its turnover by nearly 19 per cent to £159.27 million and hiked its profits by 13.3 per cent to £49.64 million
According to accounts for the year ending 30 April 2011, the practice’s 1,036 staff have achieved ‘record levels’ of fee earning, and has a future order book worth in excess of £230 million.
Only eight per cent of the London-based company’s work is currently in the UK. Projects in Asia and China make up 26 per cent of the practice’s workload with schemes across North America accounting for 24 per cent of its work.
Norman Foster’s practice, which has recently expanded its base at Hester Road, Albert Wharf, also expanded into the Middle East - a region which now makes up 16 per cent of it business.
Foster said the practice had reached a ‘milestone in its evolution’ and marked a return to its roots with the ‘re-introduction of environmental engineering and the addition of structural engineering’ into the company.