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RMJM's profits shoot up as the firm recovers from Holyrood tribulations

After the immense trials and tribulations of the Scottish parliament scheme, RMJM appears to be back on a financial even keel.

The Scottish practice's holding company, Matthew, Johnson-Marshall (MJM), has issued its latest results, and they make for much better reading than in previous years.

Profits in the year to the end of April 2006 have shot up to £2.1 million - from a meagre £142,000 in the previous 12 months.

The year to April 2005 represented the hardest and most controversial period of the construction of the Holyrood building, which was massively behind schedule and hugely over budget.

Latest accounts from the firm show that RMJM's turnover was up by 23 per cent from 2005 to £34.4 million, and the group said its worldwide business was performing well.

The most successful business development has clearly been investing in the burgeoning Middle East market. The practice saw turnover in the region rocket 97.3 per cent to £12.9 million, up from £6.5 million in 2005.

The practice has just picked up the major international Gazprom skyscraper competition in St Petersburg, Russia.

MJM managing director Peter Morrison said: 'The turnaround has been as a result of taking the firm from an old-style partnership to a modern, corporate operation.

'We have spent a lot of time putting in the right support systems, making sure we are all facing in the right direction.'

He added: 'That effort is now paying off. We have now built a platform that is helping us to launch into the construction booms in the Middle East and Asia.'

by Ed Dorrell

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