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SMC profits soar by 280 per cent

SMC Group, the business that took over Alsop Architects earlier this year, has revealed hugely successful results for the last 12 months.

The group, which is headed up by Stewart McColl, has clearly benefited from its aggressive growth strategy.

Revealing its financial figures - something it is obliged to do because it is listed - the company unveiled a series of successful results for the 12 months to the end of December.

McColl announced this morning that turnover grew by 159 per cent to £13.5m and that pre-tax profits were up 280 per cent to £2.9m.

Alsop was not the only firm taken over. Among five other acquisitions were Covell Matthews and Ian Penrose Architects.

McColl said he was very pleased with the 12 months' business. 'I am delighted to report an excellent set of maiden full-year results that reflect the considerable progress we have made.

'We firmly believe that an opportunity exists to create an architectural and design business of international scale through a strategy of both organic and acquisition-led growth.

'The new financial year has started well and we look forward to continuing to deliver value for shareholders,' he added.

by Ed Dorrell

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