Architectural design practice PM Devereux bounced back into profit in 2014 and posted a 2.1 per cent rise in turnover, according to its latest accounts
The company, part of the multidisciplinary PM Group, said pre-tax profit for the year to 31 December 2014 was £113,000, up from a £547,000 loss in 2013. Revenue increased 2.1 per cent to £2.9m.
Managing director Julian Seward said the AJ120 practice’s improved performance had been driven by success in the science and technology sector, with projects under construction for RB in Hull, a Southampton University scheme just about to go in for planning, and the completion of the Maurice Wohl Clinical Neuroscience Institute at King’s College, London.
‘We bottomed out in 2014 and 2015 is coming back up into a reasonable amount of profit,’ he said.
Seward said that staff numbers had increased by around 20 per cent to 44, and had included the appointment of Jonathan Hartnell as science and technology director and Karen Beaty-Pownall as health-sector director.
He added that the practice had just completed a new school of veterinary medicine for Surrey University, and had been working on a centre of excellence for the Royal National Orthopaedic Hospital in Stanmore, north London.
Seward, who joined PM Devereux earlier this year from Swanke Hayden Connell Architects in New York, said he believed 2013’s loss was due to business-planning issues and a heavy reliance on healthcare work.