Allford Hall Monaghan Morris (AHMM) more than doubled its pre-tax profits in the last financial year, according to its latest set of accounts
More from: AHMM adds 60 staff and sees profits double
The company’s report and accounts for 2013/14, shows that the company saw profits before tax leap to £4.54 million from £2.17million the previous year.
The results reflect a period of rapid growth for the company, which in May was named in the AJ100 list as the UK’s third largest architectural practice - up from ninth place last year. Average monthly headcount during the trading year was 275 - up 66 from 2013.
AHMM managing director Peter Morris said the rise in profits would directly benefit staff due to a rise in the amount of profit which will be redistributed to staff this year. The company profit share scheme will see staff receive a share of profit equivalent to 13.5 per cent of their basic salaries – up from 9 per cent last year.
The company’s pre-tax profit margin was up to 16.8% from 12% while turnover rose by 49% from £18.05 million to £26.98 million.
Morris said that the uplift reflected ‘continued growth in development and construction activity in London and further afield’, including Holland and the USA. The firm has also increased its work on large mixed-use masterplans, he said.
Morris added: ‘Managed growth in staff numbers over the year has been underpinned by continued investment in the infrastructure of the practice.’
The Clerkenwell office has seen a new modelshop incorporating 3D printing and laser-cutting technology, while branches in Brisol and Oklahoma City in the USA have also expanded.
In September 2013, it won planning permission for Google’s 93,000m2 headquarters building in King’s Cross, London, although two months later it was asked by the client to come up with a ‘more ambitious’ design.
AHMM was established in 1989 by Simon Allford, Jonathan Hall, Paul Monaghan and Peter Morris.
The company held £2.6 million in assets at 31 March 2014, compared to liabilities of £156,471 at the end of the previous financial year.