Following sustained year-on-year growth, Darling Associates, which recently acquired North West practice Architect-CT, has confirmed a continued increase in turnover and profit for the year to March 2018.
Turnover at Darling Associates, which is currently celebrating its 15th anniversary, grew by 18.5 per cent to £7.27m, and pre-tax profits increased to £1.78m, up 16 per cent.
Chris Darling, Managing Director, Darling Associates, commented: “During the last financial year, and despite an uncertain landscape, we’ve continued to invest substantially in the business, including with a raft of new architect appointments and the launch of a new wholly owned subsidiary company, Darling Monitor, which provides expert client monitoring team and design auditing services on building projects.
“I think our latest results demonstrate the success of our carefully managed growth strategy.”
Darling Associates’ positive performance follows continued investment over the past 4-5 years, which has enabled the studio to manage a range of increasingly large and high-profile project appointments, including 4 Glass Wharf, a major headquarters office development in Bristol for Salmon Harvester, and 120 Moorgate, a mixed-use, predominantly office building in London for Vengrove.
“Looking ahead to the next year, we remain both optimistic and excited for Darling Associates’ future and we are expecting to see further growth” continued Darling.
“It’s already proven to be an eventful year. In June, we announced a significant investment, the acquisition of Manchester practice Architect-CT. This has seen us join forces with a talented team of leisure and hospitality specialists, and the move is assisting us in offering an expanded portfolio of client services as well as enhancing our regional reach throughout the UK. The addition of the Manchester practice, and an expansion to our Poland office, has created a combined 120 strong team. We’re also keen to look to other UK regions, and in principle are open to at least considering further opportunities for expansion where there are real synergies.
“Finally, we’re now approaching the completion of three significant client projects this year.”
Projects concluding in the final three to four months of 2018 include the comprehensive redevelopment and refurbishment of Axtell House, the seven-storey office building in Soho for E&A; the delivery of Lollard Street, a significant affordable housing development for Canary Wharf Group in Lambeth; and the completion of 3 Glass Wharf, the new HMRC workplace building in Bristol for Salmon Developments.