Pairc Uí Chaoimh and Aviva designer Scott Tallon Walker posts loss
The multi-award winning architectural firm recorded the pre-tax loss despite revenues having rebounded by 15.5% from €4.18m to €4.83m in the 12 months to the end of December.
It had a profit of €748,470 in 2013.
The firm recorded the loss after operating expenses increased 58% from €3.4m to €5.3m.
The expenses last year included “establishment costs” of €624,225.
The jump in expenses came after it recruited more staff when it secured a number of prestigious contracts, including the design contract for the new 45,000 seater Pairc Uí Chaoimh.
The firm works across a range of fields including hospitals, office buildings, showrooms, laboratories and media centres.
The largest individual shareholder in the firm and widely regarded as one of the country’s leading architects, Ronnie Tallon, died at the age of 87 last year.
Mr Tallon counted the Aviva Stadium design in collaboration with Populous as one of his final projects.
According to the directors, “2014 saw real recovery in the Irish market with a number of existing long-term contracts clear to proceed and new contracts secured.
"In response, we have recruited a number of key people to deliver this new work in 2015 with major contracts secured in the UK and France.”
Eleven directors last year on the board last year earned an aggregate of €926,830. That’s down from €1.06m in 2013.
Numbers employed at the firm rose from 52 to 57. Salary costs increased from €2.8m to €2.88m.
Accumulated profits at the firm last year fell from €4.96m to €4.11m, and the cash pile decreased from €1.98m to €1.26m.
The figures show that the firm recorded an actuarial loss of €354,000 on its pension scheme last year.
The company recorded a post-tax loss of €539,940, after paying corporation tax of €21,500. The directors say that the outlook is brightening.
“Though the trading outlook remains challenging, we are confident of continued upturn in the next 12 months,” the report says.
