But practice says shift to employee ownership trust hit gross profits for 2017-18
AHMM’s just-filed group accounts report a 13% growth in turnover in the 12 months to April. However pre-tax profit at the practice is down on the year 2016-17.
The firm, which is ranked No 53 on BD’s latest WA100 tally of global architects said turnover for 2017-18 was £38.7m, but pre-tax profit plunged from £3.8m to £907,780.
AHMM said the downward shift in profit reflected “a number of factors” including a larger pool of staff eligible for profit share, share purchase and other obligations relating to the transfer of 60% of the practice to an employee ownership trust in September 2017.
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