Fosters sees income break through 400m figure
Source: Foster & PartnersFoster & Partners proposals for the Ellison Institute of Technology in OxfordThe countrys biggest architect saw turnover break the 400m barrier for the first time last year and staff numbers edge up to the 2,000 mark.Latest accounts filed by Foster & Partners at Companies House show that income was up 29% to 422m with staff numbers up 11% to 1,900.The firm, whose UK schemes include the Ellison Institute of Technologys research and development facility in Oxfordand a masterplan job as part of the redevelopment of Manchester Uniteds Old Trafford stadium, said pre-tax profit doubled to 2.3m in the year to April.Fosters earnings before amortisation, depreciation and a partnership payment of almost 20m to its 100-plus partners was 44m down from 55m last time.> Also read:Fosters serves up completed Spanish winery projectThe 19.8m partnership payment is shared between all partners and is in addition to an annual bonus, the firm said.The architects biggest business is the Middle East where it posted an income of 177m, up by half on last time and around 42% of its entire group workload. Income from its UK business stayed flat at 38m.> Also read:Fosters 750m London datacentre gets green lightFosters, whose largest shareholder is the Canadian private equity firm Hennick & Company which over the summer bought a stake in Gardiner & Theobald, said it would pay a 24m dividend, up from 14.6m last time.The accounts also reveal it spent 900,000 on restructuring costs.Fosters winery building in Spain for Rioja producer Bodegas Faustino, completed this year