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Pascall + Watson profits take off with more aviation wins

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Aviation specialist Pascall + Watson has reversed two years of profit decline in a strong set of annual accounts

The practice saw pre-tax profits rise from £147,968 in 2015 to £2.6 million in the year ending 31 December 2016.

Turnover rose from £7.9 million to £20 million, which the company attributed to a number of large contracts in the UK and Middle East.

Prince Mohammed Bin Abdulaziz International Airport by Pascall + Watson

Prince Mohammed Bin Abdulaziz International Airport by Pascall + Watson

Prince Mohammed Bin Abdulaziz International Airport by Pascall + Watson

A statement from Pascall + Watson said: ‘Our reputation around the world has continued to develop, most particularly in the aviation and leisure sectors, and this has enabled us to continue to seek significant architectural projects from America to the Far East.

‘We have as a result secured new or have ongoing projects at a number of international locations, including Abu Dhabi, Dubai, Singapore, Denver, Venice and Bologna Airports.’

Turnover in Continental Europe rose from £637,417 to £1.2 million over the year, with turnover in the rest of the world rising from £918,681 to £4.2 million.

In the UK, turnover jumped from £6.3 million to £14.6 million.

The company said: ‘In the UK we have undertaken architectural commissions at Heathrow, Gatwick, Stansted and Manchester Airports as well as continuing works on a significant commission covering the development of London City Airport.’

Earlier this month, Uttlesford District Council approved Pascall+Watson’s £130 million arrivals building at Stansted Airport.

Last year, accounts for the year to April 2015 showed the practice’s pre-tax profit dropping 10 per cent to £129,000 – a fall the practice put down to the cost of its office move in September 2014.

This year Pascall + Watson has increased its head count from 117 to 147, with the wage bill rising from £4.3 million to £9.2 million.

‘We have expanded our office space and made significant investments in technology in order to enable our design personnel to continue to meet the high standard of design expected of Pascall + Watson,’ the company said.

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