Pascall + Watson’s turnover from abroad drops by a third
Aviation specialist Pascall + Watsons has seen its overseas turnover drop by of 35 per cent in the 12 months to the end of April 2013
Recently released results reveal the company posted £4.1million in turnover for work outside the UK, down from £6.3m in the previous 12 months.
However this was compensated for by an increase in UK work, meaning global turnover was effectively flat at £16.8million. Meanwhile pre-tax profit grew by three-quarters to £958,753.
The practice saw the value of its work in mainland Europe rise by two-thirds to £2.3million, while work in the rest of the world dropped by two-thirds to £1.8million.
Overall staff numbers at the company, which was ranked 12th in last year’s AJ100, also fell from 183 to 175.
However, Pascall + Watson said it had seen a growth in work in the Gulf.
‘Our work in the Middle East increased, giving us opportunities in Qatar, Dubai and Saudi Arabia,’ the directors said in a statement accompanying the results.
‘Here our portfolio is more diverse and we have been able to develop a new dive centre, a 5-star hotel and a high-rise luxury housing scheme.
‘We successfully obtained all the permits for the design of the new Louvre in Abu Dhabi in collaboration with the architect Jean Nouvel and this project is now on site.’
The firm added that it aimed to open an office in the Middle East in the next financial year.