London-based global big hitter Benoy has increased its turnover and profits but seen its workforce shrink
According to the company’s accounts for the year ending 31 December 2016, the practice’s income rose slightly from £48 million in 2015 to £48.2 million.
Profit before tax also edged up from £5.9 million to £6.2 millon over the same period.
But the figures also reveal how its staff numbers fell from 508 in 2015 to 461 by the end of last year. And while the company insisted it had since increased employee levels to over 500, the practice confirmed it had let a number of contract staff go and made one redundancy in recent weeks.
It is understood the reduction in numbers was linked to the future of its role on the huge Dubai Creek scheme.
A company spokesperson said: ‘A key stage of a Middle East project has reached completion and the conclusion of Benoy’s instruction prompted the realigning of the team. The majority of people – over 60 per cent – have been redeployed on alternative projects including a number of recent wins.
‘The contracts for 14 contract staff have been concluded and there has been one redundancy.’
They added: ‘Benoy promotes a flexible resourcing structure that allows and encourages individuals to move around its local and global studios. This fundamentally offers the company the ability to, wherever possible, deploy – or redeploy – colleagues in appropriate and fulfilling roles and so retain their knowledge and share their experience across the wider Benoy team.’
Acknowledging the difficult trading situation in many countries over the last 12 months, the 70-year-old practice said: ‘There is no doubt 2016 was a year that brought uncertainty to many markets. Operating on a global scale, Benoy was exposed to the changing and indeed challenging market conditions of the world’s economies.
‘With Brexit and its impact in the UK economy still unfolding, Benoy is pleased to report that the UK market delivered an increase in turnover as a proportion of overall turnover from 7 per cent in 2015 to 13 per cent in 2016.’
Included among the practice’s work is the £1 billion expansion of Manchester Airport’s Terminal 2 where Benoy will be delivering the interior concept design for the international departure lounge (pictured).