Montagu Evans has recorded a 4% revenue increase in the year to March 2021, but its profit took a hit from a one-off cost associated with the move to its new headquarters at “the Can of Ham” – 70 St Mary Axe, EC3.
The consultancy’s turnover totalled £52.4m, up from £50.4m a year prior. Statutory profits were down by £1.2m to £16.9m, driven by cost provisions including £1.5m relating to its former premises and £1.4m in dual running costs for the two offices.
However, the underlying performance of the firm excluding relocation expenses was strong, with total distributable profit among partners rising by 6%.
The average distributable profit per partner was up 12% from the previous year to £412,000. The wider non-partner bonus pool increased by 26% to £4.7m.
Investment in new technology and workspace stood at £4.4m for the period, with a further £2.6m invested in its staff. Notably, its first apprenticeship scheme was set up during the year.
Income remained broadly steady across all departments, the company noted, while public sector activity increased.
In the private sector, Montagu Evans said it has benefited from “productive” new relationships. It also cited a “good increase” in property management income following new mandates.
“Strong return” to the office
Managing partner Rob Bower said: “Having made long-term investment decisions about our people, space and tech, even in the height of the first lockdown, we were pleased to see a very strong return to the office in April and we are more convinced than ever about the direction the partnership is taking.”
Bower said that in the eight months to the end of November 2021 revenue rose by 30% year-on-year.
Looking ahead, Bower added: “There is still more to do, including delivering on our long-term net-zero carbon commitments and becoming a more sustainable, diverse and inclusive business, but the direction of travel is clear, and progress is one of the board’s priorities.
“London is a major focus – not just as a driver of the global economy but with its ability to lead the way as the country levels up. There is increasing appetite for strategic, early-stage advice to help respond to the impacts of Covid, and our investment in the past year puts us in a strong position for further growth.”
New hire
Separately, Montagu Evans has hired James Keogh, principal urban designer at the Greater London Authority, as an associate in its historic environments and townscape team. He will provide design advice and contribute to townscape analysis on the firm’s planning and development projects.
Keogh has worked at the GLA for the past eight years. Prior to this, he worked for the London Borough of Hackney as senior design officer.
Guy Bransby, partner at Montagu Evans and head of its central London planning and historic environments and townscape teams, said: “James’s ability to combine top-level urban design with a focus on delivery is a welcome addition, and his recent experience is a huge advantage at a time when London is an important focus for the firm.”
Keogh said: “Now, more than ever, good design is one of the central drivers of the planning system, placing great weight on the crucial role it plays in achieving sustainable, liveable and successful buildings, places and communities.”
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