Firm eyeing new markets to combat slowdown
Falling public sector workloads helped send Devereux Architects into the red last year, the firm has said.
The practice posted a pre-tax loss of £264,000 from a £205,000 profit last time while turnover in the year to December 2016 tumbled more than a third to £2.1 million.
The firm, which is part of Irish engineer and project manager PM Group, said “there continues to be a slower uptake in activity in the public sector where healthcare and spending remains subdued”.
It again said it wants to target more jobs beyond its core public sector workloads in the next few years and added that some progress had been made on this. “There was a focus on building the order book towards the end of 2016 which has resulted in the company entering 2017 in an improved position.”
Staff numbers remained flat at 35 while the firm said its four directors waived their rights to remuneration totalling more than £267,000.
Last December, the firm was appointed to an estates strategy masterplan by Hinchingbrooke Health Care NHS Trust for its site (pictured) at Huntingdon in Cambridgeshire.