Broadway Malyan opens Sao Paulo office
International firm now earns more than half of its fees from outside Europe
Broadway Malyan has opened an office in Sao Paulo and is now earning more than half of fees outside of the UK and Europe.
In a statement released this morning, the architecture, urbanism and design practice - which was ranked 59th in BD’s 2011 World Architecture 100 survey – said it was now operating profitably after a period in which it crashed into the red last year and spent more than £200,000 on redundancies.
According to interim results filed by the company for the six months ending October 2010, the business achieved a profit of just over a £1 million, which it described as “historically low for the practice, but reflecting the challenging market conditions”.
It added that it had been operating profitably since September 2009.
The new office in Brazil’s largest city will lead a series of major project wins, including a 600-bed hotel – the Casa do Governador Resort Hotel for client Teixeira Duarte, with the practice providing architecture, interior design and landscaping services.
Managing director Gary Whittle said: “By extending our geographical reach and through sector diversification we are maximising the opportunities presented by growth markets, particularly in Asia, to offset the challenging market conditions.
“The new Sao Paulo office will further enhance our global reach, provide an additional platform for us to export our expertise and help to ensure that we are well positioned for the future.
“We boast a strong project pipeline, are actively targeting emerging countries and new markets to continue to grow the business, such as education in China, and are on track to achieve our target operating profit for the year end 2011.”
Figures for the Broadway Malyan Group for the year ending April 2010 show a turnover of £32.2 million (compared with £51.5 million in 2009) and a pre-tax loss of £2.3 million (compared with a profit of £236,123 in 2009).
Further accounts for the limited company for the year ending April 2010 pointed to bad debt of £997,000, up nearly a quarter from the £809,000 it racked up last time. It said this was mainly confined to one specific region – thought to be the Middle East – and added this had been incurred because of company failures resulting from the global recession.
Reflecting the group’s numbers, the salary of the highest-paid director, who is not named, more than halved to £154,000.
The firm now has “live” projects in countries including Vietnam, Thailand, Malaysia, the Philippines, Turkey, Angola, Iraq, Azerbaijan and Mozambique.
It also made a number of new appointments, including James Rayner and Roger Tustain, who joined the firm’s main board at the end of 2010, representing international masterplanning and town planning respectively.