Ove Arup Partnership in the UK has released its annual report and financial statement for 1999 showing a 50% overall profit increase. The partnership, which is owned by trusts, reinvests all profits in the firm for the benefit of staff and partnership development. The 50% profit increase to $24m sees a highest ever staff profit share.
In 1999, Ove Arup recorded a 23% increase in world-wide turnover to $425.6m. Figures show a 31% increase in turnover in East Asia to $148.8m, despite the economic downturn; a 26% increase in turnover in the Americas to $38.4m; a 21% increase in European turnover to $27.2m; and a 16% increase in UK turnover to $206.4m.
Profitability continued to improve in line with the previous three years. The European and US markets recorded significant increases.
