Architectural firm Clery’s Quarter sees profits jump 50%

Pre-tax profits jumped 50% last year at the firm that designed Dublin’s new Clery’s Quarter. Henry J Lyons, which is the largest architectural firm in the state with 274 architects, reported profits of $394,499 for the 12 months to September last.

The rise in profits came even as revenues fell slightly, to 36.14 million euros from 36.16 million euros the previous year.

The company’s work features among some of the city’s most prominent commercial developments, including One Molesworth Street and Iput’s Wilton Park project which will accommodate 3,500 to 4,000 office workers.

The firm also designed the headquarters of the Central Bank on North Wall Quay in Dublin.

The results come in a year that has seen an upsurge in strategic housing development applications at An Bord Pleanála and ambitious office developments planned for the capital.

A breakdown of revenue shows that the lion’s share, €35m, was generated in Ireland. The €1.1 million recorded as coming from the “rest of Europe” represents a 65% increase compared to 2020.

The directors said the “business results. . . and the financial situation at the end of the year were deemed satisfactory”.

Personnel costs, including directors’ remuneration, fell last year from 25.9 million euros to 26.47 million euros, as the number of firm employees increased by 11 people to 296 .

However, the remuneration of the 10 directors fell by 20% to 4.3 million euros.

At the end of last September, the company’s cash amounted to €12.8 million.

Other projects the firm has been involved in include DocuSign’s EMEA headquarters, Central Plaza on Dame Street, HubSpot’s headquarters in Dublin, Ireland House in Tokyo and the Irish Stock Exchange for Euronext.

Michael J. Chiaramonte