Fosters’ partners share another multi-million-pound payday

The 180 partners at Foster & Partners enjoyed another bumper payday with the architect handing them a near £9m payment, the firm’s recently filed accounts have revealed.

The practice said partners would share an £8.8m windfall under a partnership payment initiative set up in 2014 with the amount working out at nearly £50,000 per partner.

The figure was revealed in the firm’s latest accounts that showed pre-tax profit jumped more than 200% to £35.8m in the year to April 2021 on turnover down 13% to £236m.

Accounts for the previous year showed the firm’s partners shared more than £31m as part of a restructuring bonus which worked out at more than £200,000 per partner.

Asignificant stake in Foster & Partners was sold to private investor Hennick Company in October, making the Canadian family firm its single biggest shareholder.

尽管员工流动率从19万英镑降至16.6万英镑，但该公司的平均员工数量仍维持在1418人。该公司在全球有近100个工作岗位。

It added that reduced travel costs because of covid restrictions and more working from home meant earnings before partnership payments only fell by £1.5m to £64m.

Its biggest market during the period remained the Middle East with income of close to £89m, up £4m on the previous year, but turnover from North America fell 40% to £45m. Revenue from the UK largely held up despite lockdowns with a fall of 5% to £17.9m.

>> Also read:Foster & Partners sold to private investor

在他的主席声明中，practice创始人Norman Foster说:“即使我们在去年继续面对所有的挑战，我们仍然能够完成4大洲15个城市的16个项目。”

The accounts were signed off in July, several months before the firm’s scheme to build the Tulip tourist attraction in the City of London was thrown out by communities secretary Michael Gove in November.