Profits slump 9pc at architects Lyons
Pre-tax profits at Henry J Lyons, the country's largest architectural firm, last year decreased by 9pc to €1.3m - in spite of a further jump in revenues.
The company experienced the drop in profits as revenues increased by 21pc to €15.42m in the 12 months to the end of September last.
Some of the firm's projects include the €150m redevelopment of the Clerys site, the €80m Central Bank HQ; Johnny Ronan's new €200m Pegasus office block plan and the planned Central Plaza around the former Central Bank on Dublin's Dame Street.
The architectural firm has been in business for more than 90 years. Some of its other projects include the award-winning Criminal Courts of Justice and the five-star Westin hotel in Dublin.
The pre-tax profits of €1.3m last year followed pre-tax profits of €1.4m for the prior 16-month period.
The directors state that the trading results for the year and the financial position at year-end were considered satisfactory by the directors.
The boost in business resulted in numbers employed last year increasing from 128 to 156. Staff costs last year totalled €11.12m.
The nine-member board shared pay of €2.4m over the period that included pension payments of €731,000.
Key management were paid €2.4m in 2017.
The firm's capital expenditure last year totalled €302,445 and this followed a capital spend of €276,185 in 2016.
The profit last year takes account of non-cash depreciation costs of €220,609.