Profit up fourfold at airport architect despite £300,000 bad debt provision

Transport architect Pascall & Watson saw pre-tax profit climb fourfold last year – despite the firm having to book another bad debt provision.

The practice, which is carrying out design work at several major UK airports including Heathrow, Gatwick and Manchester, said it was forced to book a £300,000 provision because of bad debts following the £2.1m it was forced to write off in 2023.

But the issue didn’t prevent profit jumping from £481,000 to £2m with turnover edging up 3% to £33m.

The firm, which added that a work boom meant it expanded its office in the UAE last year, said opportunties across the airport, rail and ports sectors were on the up and added that its increasing bid activity for jobs in the aviation sector last year had been “marked”.

Revenue at its UK business was up 4% to £22.4m while work from the rest of the world, which includes the Middle East, also rose 4% to £9.4m.

Cash in hand was up a third to £6.4m while staff numbers were up 20% to 225.