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Profit doubles in ‘exceptional year’ for Wilkinson Eyre

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Increased revenue from UK and North American projects saw profit soar by 115 per cent at Wilkinson Eyre in the year to April, official accounts show.

The practice, named fastest-growing AJ120 operation in June this year, said its profitability had also been bolstered by increasing its architect headcount from 111 to 159 without radically altering its overheads.

Data lodged with Companies House reveals that Wilkinson Eyre’s turnover in the year to March 31 increased by 52% to just short of £22m.

Profit before tax increased from a shade over £3m in 2014 to £6.5m in the last financial year, or 115%.

In an accompanying statement, founding director Jim Eyre said: ‘The increase in profitability relates to the efficient use of the overhead costs and static numbers of administrative staff across an increasing number of fee-earning architects’.

A breakdown of turnover by international region shows North America as Wilkinson Eyre’s biggest gowth area, with a 205% rise in revenue compared with 2014. UK revenue was up 39%, while Asia-Pacific revenue was down by 68%. The practice said revenue from the rest of the world was up by 42%.

Eyre’s report describes residential work as an ‘ever increasing sector’ for the practice, citing the Royal Mail’s Mount Pleasant sorting office scheme, Kings Cross, Battersea Power Station and unspecified Far East work.

It also references the practice’s 40-storey Prussian Blue office development for Mitsubishi Estate London, which recieved planning permission in July and a 250,000m² mixed-use project in downtown Toronto that the practice was appointed to after a competition last year.

Eyre subsequently told The AJ: ‘We have had an exceptional year and have taken this opportunity to invest heavily in our IT infrastructure, pay down our bank debts, develop our office space and maintain appropriate reserves.’

 

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