Engineering consultancy Cundall Johnston and Partners鈥 turnover rose to 拢64m last year but the company鈥檚 profits took a hit.
The firm, which is based at Partnership House in Gosforth, Newcastle, saw its revenues jump from 拢60.3m to 拢64m for the year ending June 30 2019.
But despite the 6% growth to its topline, the businesses鈥 operating profit dropped from 拢8.2m to 拢7.5m. The company said that the fall in profits was down to tough trading overseas.
Speaking in the company鈥檚 accounts, partner Thomas Neeson said: 鈥淎lthough the business has continued to see sustained growth in both turnover and staff numbers, the market in the year to June 30 2019 has been challenging in some territories for parts of the Cundall group.
鈥淭he group turnover has increased in the last year by 拢3.7m compared to the previous year, but achieved a slightly reduced level of return for the business through difficult trading conditions notably in parts of the Middle East and Far East. Pre-tax profits for the year to June 30 were 拢7.4m.
鈥淧ost year end we have continued to grow and currently have close to 900 people in the business. We have continued to invest to provide the best facilities for our staff, and have completed this for all 海角视频 offices in recent years as well as for a number of our international offices.
鈥淚n the year ahead we are focusing a number of initiatives to embed the principles of operating as a truly global business in all our territories and to embrace the digital engineering era.鈥
The dip in profits was also put down to the Cundall investing in its business throughout the year. This included investing in internal systems to help it operate around the globe, as well as in a new learning and development platform.
The majority of Cundall鈥檚 turnover came from the 海角视频, with 拢34.7m of the businesses鈥 sales coming from the domestic market. This was up from 拢34.3m in 2018. However, sales from the Middle East and North Africa fell by 拢2.5m to just 拢6m.
Overall the Cundall group increased its headcount from 746 to 833 during the accounting year. The biggest increase was made to the firm鈥檚 technical team, which grew by 77 to 678.
Meanwhile, the number of members at the group - the number of people who own and run the company - increased by one to 42.
Gordon Reid, a partner at Cundall, said: 鈥淚t鈥檚 been another exciting year for Cundall. Things are changing rapidly in our industry and we鈥檝e continued to invest in new technology and staff development to make sure that we are able to embrace the changes and deliver the best solutions for our clients.鈥
