Other growth areas included Continental Europe, where income leapt from £21.6 million to £40.6 million. However, turnover dropped in Asia, from £74.7 million to £64.1 million, and in the US, from £28.6 million to £24.8 million.
Its turnover increased most markedly in the Middle East, with revenue ballooning from £83 million to £118.2 million in 2023. UK fees also increased from £23.9 million to £39.7 million.
Fosters’ top-paid director’s pay jumped from £652,000 to £1,090 million – a figure still below the £1.4 million paid out in 2021.
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Despite that, the practice opened two new overseas office locations in the year to April 2023, in Hangzhou, China, and Los Angeles, bringing the total to 15 offices around the globe.
The Battersea-based giant reported that work outside the UK generated more than 80 per cent of revenue in the financial year – a slight drop on the previous year, when overseas projects brought in around 90 per cent of revenue.
Turnover per employee also rose sharply – to £222,000, up from £187,000.
Average headcount at the UK’s biggest architecture practice rose by 79 to 1,322 and pre-tax profit more than doubled to £44.4 million from £20.9 million in 2022, according to its recently published company accounts for the year ending 30 April 2023.
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