AHR Architects more than trebled its pre-tax profit last year, its latest accounts reveal
The top 20 AJ100 practice, which was formed in a split from Aedas four years ago, announced profit on ordinary activities before taxation of £1.60 million in the 12 months to 31 December 2017. This was up from £434,000 the prior year.
Turnover was up 2 per cent to £15.24 million over the same period.
Staff levels dropped from an average of 163 in 2016 to 146 last year. Staff costs dropped 12 per cent to £5.6 million.
AHR said in a statement published alongside the accounts: ‘We are pleased that steps undertaken in 2016 to refocus the business and streamline our resources started to bear fruit in 2017.’
The practice added that the UK’s looming exit from the EU was affecting operations.
‘Visibility of the pipeline of work remains more short-term than it was pre-Brexit, but we are managing our business accordingly and on track to deliver the targets set for 2018,’ said the report.
‘Our multi-sector expertise and balance of projects across the public and private sectors gives us confidence to realise the opportunities in our marketplace.’
The practice said it was focusing on its core sectors of education and housing.
AHR emerged out of Aedas, then the AJ100’s fifth largest practice, in 2014 with the Hong Kong-based business parting from its UK and European arms.
As a result the company’s 13 offices in China, South-East Asia, the Middle East and the US began operating under the Aedas brand name, with the eight UK studios and the outposts in Russia, Poland and Kazakhstan re-emerging under the new AHR banner.