AHMM accounts post 13% hike in turnover

AHMM's Weston Street apartment complex in Bermondsey which was a 2018 RIBA National Award winner

Source: Tom Rothery

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.

This content is available to registered users | Already registered?Login here

You are not currently logged in.

To continue reading this story, sign up for free guest access

Existing Subscriber? LOGIN

REGISTER for free access on selected stories and sign up for email alerts. You get:

  • Up to the minute architecture news from around the UK
  • Breaking, daily and weekly e-newsletters

 

Subscribe to Building Design and you will benefit from:

Gated access promo

  • Unlimited news
  • Reviews of the latest buildings from all corners of the world
  • Technical studies
  • Full access to all our online archives
  • PLUS you will receive a digital copy of WA100 worth over £45

Subscribe now for unlimited access.