Architect 3DReid more than doubled turnover to £18.2m in the year to 30 April 2008, thanks to its acquisition of Geoffrey Reid Associates in September 2007
The deal added £7.3m in turnover but pre-tax profit fell from £915,127 to £329,956 as a result of the acquisition and subsequent integration costs.
Despite the result, trading has worsened since then and the Glasgow-based architect said it had begun a review of the company’s cost base across all of its offices. Its net debt at the year-end stood at £5.6m, up from £1.1m the previous year.
The pay of the highest paid director rose 76% from £144,238 to £253,357.