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Grimshaw's turnover and profits increase after major project wins

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Grimshaw saw a rise in both profits and turnover for the year ending March 2017, which the practice puts down to several major project wins in the UK and abroad

According to accounts filed with Companies House, the practice’s profits before tax jumped 19 per cent to £6.2million while its turnover also increased by nearly £8 million from £51.5million in 2016 to £59.3 in the last financial year.

Meanwhile, the number of architects at the firm increased from 406 to 435. The company said that, in the same time, its cash reserves increased by more than £4 million.

The practice put down the boom in revenue as ’driven by major project wins’, including the Heathrow Airport expansion; two new Paris Metro stations; three new stations for the Mernda Rail Extension in Victoria, Australia; and the recently announced Eden Projects in China, New Zealand and Australia.

Neil Boyde, chief financial officer at Grimshaw, said: ’We are pleased to report an increase in turnover and profit for the third successive year, notwithstanding ongoing economic uncertainty in the UK and elsewhere.

’Equally importantly, our diversification across regions and sectors, and enhanced financial stability, creates a solid base for future success.’ 

The practice said that staff numbers across the group are ‘approaching’ 550. It recently announced that it would be opening an office in Dubai, adding to its bases in London, New York, Melbourne, Sydney, Doha and Kuala Lumpur. 

Last month, Heathrow Airport confirmed it would not be building a new terminal building as part of its £16 billion expansion plans - which include a controversial third runway - despite Grimshaw winning a competition last year to draw up designs for a ‘hub airport of the future’.

But, although the contest asked entrants to come up with a concept for a ‘terminal of the future, a Terminal 6 was only one of the options being considered by the airport and the AJ100 practice still has considerable work with the airport.

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