PM Devereux reports increased turnover and pre-tax profit rise for 2014
Devereux Architect Ltd t/a PM Devereux, the London based architectural design firm, has reported a rise in pre-tax profit to £113,000 from a loss of £547,000 in 2013 and an increase in turnover to £2.9 million.
Operating profit before exceptional items was also up to £112,000.
Commenting on the results, John C O’Connell, Director UK Operations, PM Group said: ‘Following a reorganisation of the business in 2013, we are pleased to report that the company has seen a return to profitability in 2014. We are also benefitting from the strong links with our international parent company PM Group which has seen us collaborate on a number of large-scale projects in the UK. We are on track to capitalise on buoyant market conditions and to further improve our profitability this year.’
PM Devereux announced the appointment of Julian Seward as Managing Director earlier this year. According to Julian Seward: ‘Our performance this year has been driven by success in the Science and Technology sector in particular with prestigious R&D projects under construction for Southampton University and RB in Hull, and a Royal opening for the Maurice Wohl Clinical Science Institute at King’s College, London. To support this strategic sector expansion, we have added a number of key posts increasing our overall headcount by 20% in the year. This positions the business very strongly to take advantage of the significant opportunities for growth offered by the UK market in the medium term.’
Concluding he said: ‘Since joining PM Devereux, my focus has been to deliver on our objective of creating high quality, innovative and affordable design solutions for clients in the Healthcare, Science and Technology, Education and Commercial sectors, to secure new projects and to grow our team by attracting the best talent in the market place. We are already seeing the positive results of our strategy and I am confident that we will continue to grow and improve our business as planned, in the coming year.’