Benoy profits fell by 13 per cent last year while its staff tally dropped by a similar margin
The Newark-headquartered practice, which has studios around the world, this week posted pre-tax profit of £4.8 million for the year to 31 December 2018, down from £5.5 million the previous year.
Although Benoy’s turnover grew by 6 per cent to £52.4 million over that reporting period, global headcount dropped from 489 to 430.
Professional staff numbers dipped by 16 per cent across the group to 357 at the end of last year.
Staff costs fell by 7 per cent to £26.4 million. But the top director salary rose by £10,000 to £545,000.
Chairman Graham Cartledge said the group had posted a ‘strong set of financial results’. He said the revenue increase had allowed investment in IT infrastructure and ‘geographic presence’.
‘The businesses remain agile, enabling them to take advantage of opportunities, numerous collaborations and further expansion,’ he added.
Benoy this year revealed plans for a 10,000-seater stand at Nottingham Forest’s famous City Ground stadium (pictured). The practice said in February that it was recruiting for various roles in both its London and Newark studios.