Home Business Architects Henry J Lyons enjoyed bumper year in 2019

Architects Henry J Lyons enjoyed bumper year in 2019

- Advertisement -

PRE-TAX profits at the designers of the Central Bank HQ have more than doubled to €2.23m.

Revenues at Henry J Lyons Architects soared 40pc from €21.99m to €30.8m in the 12 months to the end of September 2019 due to the commercial office building boom in the capital.

The bumper year, where pre-tax profits at the multi-award winning company increased by 110pc, resulted in aggregate pay for its nine directors jumping by 38pc from €3.19m to €4.41m.

The directors’ pay included pension payments of €1.2m and pay of €3.2m. The directors also own the company.

The company – which has offices in Dublin and Cork – counts developer Johnny Ronan and Google as clients.

The company’s projects include some of the most high-profile commercial developments in Dublin including the redevelopment of Clery’s on O’Connell Street, One Molesworth Street and IPUT’s Wilton Park scheme that will accommodate 3,500 to 4,000 office workers.

Other projects 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.

The directors stated that the trading results for the year and the financial position at year end were considered satisfactory.

The company expanded during the year with the acquisition of Gilligan Architects Ltd. The number of people employed by the business last year increased from 190 to 239 and staff costs, including directors’ remuneration, last year increased from €15.4m to €20.4m. The company’s workforce include 211 architects.

The company’s profits take account of non-cash depreciation costs of €345,259 and operating lease costs of €572,354. The firm recorded post tax profits of €1.84m after paying corporation tax of €389,770. At the end of September 30th 2019, the company’s accumulated profits stood at €5.8m. The company’s cash funds during the year increased to €7.8m from €2.6m .

On the impact of the pandemic, the directors stated that “the extent to which Covid-19 and our precautionary measures may impact the group will depend on future developments which are highly uncertain and cannot be predicted at this time”. The directors state the company has been adjusting to having a fully remote work force. The company last year spent €990,4553 on the purchase of assets made up of €630,452 on tangible fixed assets and €360,001 on intangible assets.

Online Editors

- Advertisement -
- Advertisement -

Stay Connected

16,985FansLike
2,458FollowersFollow
61,453SubscribersSubscribe

Must Read

Taking a swim in cold water may help protect us against dementia

Swimming in cold water could help to protect the human brain from dementia, a study has suggested. Researchers from the University of Cambridge believe...
- Advertisement -

Coronavirus can survive on surface of skin for nine hours

Coronavirus can survive on the skin for up to nine hours, underscoring the importance of regular hand washing, Japanese researchers have found. Scientists tested...

Russia plotted cyber attack in bid to disrupt 2020 Olympic Games in Tokyo

The Russian military intelligence unit behind the Novichok attack on Salisbury tried to disrupt the summer Olympics in Japan in a plot uncovered by...

It’s ‘painful’ not to be able to play new songs live, Springsteen reveals

Bruce Springsteen said it is "painful" not being able to perform his new songs in front of fans due to the pandemic. The veteran...

Related News

Taking a swim in cold water may help protect us against dementia

Swimming in cold water could help to protect the human brain from dementia, a study has suggested. Researchers from the University of Cambridge believe...

Coronavirus can survive on surface of skin for nine hours

Coronavirus can survive on the skin for up to nine hours, underscoring the importance of regular hand washing, Japanese researchers have found. Scientists tested...

Russia plotted cyber attack in bid to disrupt 2020 Olympic Games in Tokyo

The Russian military intelligence unit behind the Novichok attack on Salisbury tried to disrupt the summer Olympics in Japan in a plot uncovered by...

It’s ‘painful’ not to be able to play new songs live, Springsteen reveals

Bruce Springsteen said it is "painful" not being able to perform his new songs in front of fans due to the pandemic. The veteran...

Trump rounds on his Republican critics as ‘stupid’

Donald Trump has lashed out at Republican senators distancing themselves from him as party tensions were laid bare with election day just two weeks...
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here