That is according to new consolidated accounts filed by Henry J Lyons (Architects) Ltd which show that remuneration to its 10 directors increased from €2.76m to €2.93m in the 12 months to the end of September last.
A breakdown shows that pay to the directors remained static at €2.53m for last year while the overall increase arose from pension contributions rising from €224,520 to €402,912.
The €2.9m figure remains sharply down on the €3.82m paid out in fiscal year 2022.
Last year, revenues increased marginally from €30.07m to €30.66m.
This followed revenues sliding by 18pc, or €6.6m, from €36.64m to €30.07m in the previous year which coincided with a downturn in the Dublin office market.
In fiscal 2024, the group – with offices in Cork and Dublin – recorded a very modest pre-tax profit of €478,000 which compared to a pre-tax loss of €135,269 in the previous year.
The group last year recorded a post-tax loss of €62,029 after a corporation tax charge of €62,507 was taken into account.
The group’s profits were hit last year by a €112,370 cost concerning the disposal of a subsidiary.
Last year, the company’s workforce reduced from 275 to 237 with the number of architects reducing from 241 to 221 and numbers employed in administration declining from 34 to 25.
Staff costs reduced from €22.29m to €21.3m.
Last week, planners at An Coimisiún Pleanála rejected the firm’s designs for Johnny Ronan’s RGRE planned 17-storey redevelopment of global banking giant Citigroup’s current European headquarters at 1 North Wall Quay in Dublin’s docklands.
However, some of the firm’s schemes to get built include Clerys Quarter on Dublin’s O’Connell Street along with the Central Bank HQ on North Wall Quay and the Google Flour Mills building.
The directors state that “the trading results for the year and the financial position at year-end were considered satisfactory by the directors”.
The pre-tax profit last year takes account of non-cash amortisation and non-cash depreciation costs of €816,783.
The group’s balance sheet shows that accumulated profits at the end of September last totalled €5m while the group’s cash funds reduced from €9.48m to €5.8m.
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