The QS firm has been affected by the civil war
QS firm Robinson Low Francis has lost the opportunity to earn around £500,000 in revenue in the coming year because of the outbreak of the civil war in Libya, the firm has said.
David Thomson, the partnership’s new managing partner, said that the consultant would instead expand into countries around the Mediterranean sea and Africa to compensate.
RLF had expected to turn over about £750,000 in its international business, which was focused on Libya, in the year to 31 April 2012. It has now revised that estimate down to £250,000. Its overall turnover to 31 May 2010 was £10.5m.
The firm was looking at a variety of mixed-use schemes, including high rise residential projects in Tripoli, and was close to starting on a scheme in Tripoli’s old town.
The partnership also announced changes to its remuneration system, profits will now be distributed among non-equity partners and other staff on a performance basis, Thomson said, rather than just the equity partners.