Profits grow for architect firm

ARCHITECTS Scott Tallon Walker (STW) delivered a 8.8% increase in pre-tax profits in 2008 and the company expects “a reasonably strong year in 2009”.

STW’s clients include RTÉ where the company has done design work on the national broadcaster’s “2025 Project” which will result in a near total rebuilding of RTÉ’s facilities in Donnybrook, Dublin.

Accounts filed by Scott Tallon Walker Limited with the Companies Registration Office for the year ended December 31, 2008, show the company made a pre-tax profit of €7,006,772, up from €6,438,181 a year earlier.

However, a €1.6m actuarial fall in the assets of the company’s pension scheme resulted in total recognised gains for the year falling to €4.7m from €6.2m in 2007.

Sales rose 13% to €21.7m in 2008 from €19.2m in 2007 with long-term contracts showing an increase to €17.2m from €14.3m.

Directors’ pay and bonuses rose to €2.3m in the year under review, up from €1.84m in 2007. Dividends paid to shareholders fell to €3.5m from €5.46m in 2007. STW has offices in Dublin, Cork, London and Galway. Staff numbers rose to 156 in 2008 (2007: 134) with employee costs rising to €10.93m (€9.8m).

The directors said in the accounts that STW performed very well in 2008 and secured a number of key commissions in sectors such as third-level education, healthcare and commercial.

The directors conceded that STW is operating in an increasingly challenging and unpredictable environment.

“Despite the current economic climate we expect a reasonably strong year in 2009. Our current workload is substantial and covers all stages of development, which should lead to a sustained performance for 2009.

The directors state that the company has “significant reserves”

The company had €9.14m in the “cash at bank” column at the beginning of the year.