Pre-tax profits jumped by 50 per cent last year at the firm that designed the new Clery's Quarter in Dublin. Henry J Lyons, which is the largest architectural practice in the State with 274 architects, reported profits of €394,499 for the 12 months to last September.
The surge in profits came even as revenues fell marginally, to €36.14 million from €36.16 million the previous year.
The company’s work features among some of the most high-profile commercial developments in the city, including One Molesworth Street and Iput’s Wilton Park scheme that will accommodate 3,500 to 4,000 office workers.
The firm also designed the Central Bank’s headquarters on North Wall Quay in Dublin.
The results come in a year that saw an upsurge in Strategic Housing Development applications being made to An Bord Pleanála and ambitious office developments planned for the capital.
A breakdown of revenues shows that the lion's share, €35 million, was generated in Ireland. The €1.1 million recorded as coming from the "rest of Europe" represented a 65 per cent increase on 2020.
The directors said the “trading results . . . and the financial position at year end were considered satisfactory”.
Staff costs, including directors’ pay, last year increased from €25.9 million to €26.47 million as numbers employed at the practice rose by 11 people to 296.
Pay to the 10 directors, however, fell by 20 per cent to €4.3 million.
At the end of September last, the business’s cash funds had grown to €12.8 million.
Other projects the practice was involved in include DocuSign's EMEA HQ, Central Plaza on Dame Street, HubSpot's Dublin-based HQ, Ireland House in Tokyo and the Irish Stock Exchange for Euronext.
