The directors of Building Design Partnership, the UK’s largest architect, have taken an average 9% pay cut to help triple the company's bottom line
Pre-tax profit in the year to 30 June 2009 rose from £1.1m to £3.3m thanks to the lower staff costs. The company’s 33 directors took home a combined £6.5m compared with the £7.4m paid to 34 directors in 2008. This represents a drop in average pay from £216,625 to £198,068.
Wages for all 1,225 staff (2008: 1,223) fell an average of 5% from £41,786 to £39,569 but the company said this was the result of taking on more young employees rather than cutting pay.
Turnover remained flat at £102m and the contribution from the UK (where its projects include the masterplan for Liverpool One, pictured) fell 5% from £86.8m to £82.7m.
The company ended the period with net cash of £15.9m compared with £19.25m in 2008.
Chief executive Peter Drummond said: “There have been some cost efficiencies but we got back to a more normal profit position in 2009.”
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