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Aviva design firm scores a swing back into profit

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7 November 2014; South Africa's Victor Matfield celebrates scoring a try during the captain's run ahead of their Autumn International match against Ireland on Saturday. South Africa Captain's Run, Aviva Stadium, Lansdowne Road, Dublin. Picture credit: Matt Browne / SPORTSFILE

7 November 2014; South Africa's Victor Matfield celebrates scoring a try during the captain's run ahead of their Autumn International match against Ireland on Saturday. South Africa Captain's Run, Aviva Stadium, Lansdowne Road, Dublin. Picture credit: Matt Browne / SPORTSFILE

SPORTSFILE

7 November 2014; South Africa's Victor Matfield celebrates scoring a try during the captain's run ahead of their Autumn International match against Ireland on Saturday. South Africa Captain's Run, Aviva Stadium, Lansdowne Road, Dublin. Picture credit: Matt Browne / SPORTSFILE

The architectural firm that co-designed Dublin's Aiva Stadium returned to profit last year as it continued to cut costs.

New figures lodged by Scott Tallon Walker (STW) Ltd show that it recorded a pre-tax profit of €748,470 after sustaining a pre-tax loss of €908,276 in 2012.

The profit coincided with a further drop in revenues with income declining by 6pc to €4.1m. However, STW's cost- cutting programme resulted in operating expenses reducing 35pc from €5.3m to €3.4m.

The directors state that "though the trading outlook remains challenging, we are confident of some upturn in the next 12 months".

The directors said overseas operations have yielded results with some major contact wins, plus signs of recovery in the Irish market.

Headcount at STW reduced from 61 to 52 with salary costs reducing from €3.5m to €2.8m. Directors' emoluments reduced from €1.3m to €1m. Shareholder funds totalled €4.96m with cash reducing from €3.1m to €1.98m.

Irish Independent