TP Bennett pre-tax profit rises 42%
Architect TP Bennett has reported pre-tax profit of £4.73million for the year to March, up from £3.33million the previous year.
It said the 42 per cent hike in its full-year figures came against a backdrop of a near 22 per cent increase in turnover to £19.3million.
In a statement, it said growth had been recorded in all of the sectors in which it operates but singled out commercial offices, residential, retail and healthcare for particular mention.
The firm said that while UK work accounted for the vast majority of its turnover, it had ‘doubled work in Europe to nearly £1.1m’ and secured £2m in work from outside the continent, up from £325,000 the previous year.
Company co-chairman Richard Beastall said the practice’s cross-sector multidisciplinary nature insulated it against fluctuating markets of individual sectors.
‘Over the past 12 months we have achieved growth across all of our 11 sectors, which is unusual but encouraging in regards to market activity and testament to the confidence our clients have in our cross-sector expertise,’ he said.
In March the AJ100 practice unveiled proposals for a 29-storey, 167-home tower in London’s Docklands and earlier this month opened a regional office in Manchester to target business growth in the north.