Architect O’Mahony Pike taps office building boom
Profits at one of the largest architectural practices in the country, O’Mahony Pike Architects, increased by 28% to €1.1m in 2017.
The firm, with offices in Dublin and Cork, is one of a number of professional firms reaping the dividends from the building boom in commercial property in the capital. They are also involved in advising clients on the high number of large-scale housing developments currently going before An Bord Pleanála.
The firm, which does a substantial amount of work for one of the country’s largest house builders, the stock market-listed Cairn Homes, saw the number it employs increase from 79 to 101 in 2017. Seven directors who were on its board had total pay of over €1.39m, up from almost €911,000 in the previous year. The directors’ pay was made up of €663,304 in pay and €733,930 in pension contributions.
At the end of 2017, the firm’s accumulated profits totalled €3.3m, while its cash pile amounted to €1.2m. Separate accounts filed by Dublin-based planning consultancy, John Spain & Associates, show that it posted profits of €207,771 in the 12 months to the end of March.
This represented a 50% slide in the profits of €418,082 posted in the previous year. The drop in profits was mainly as a result of total pay to directors having increased by 70% to €658,928.
The total pay to directors last year included pay of €454,428 and pension contributions of €204,500. The company, whose clients include developer Johnny Ronan on a number of his high-profile developments, paid no dividend last year.
It had a payout of €700,100 the previous year. Staff costs increased from €1m to €1.5m. The company’s accumulated profits stood at €1.1m at the end of March while its cash pile was little changed at €455,318. Separate figures for another Dublin-based planning consultancy firm, Tom Philips & Co Ltd, show it posted profits of €352,430 in the 12 months to the end of March.
The firm employs 24 people and paid its directors €653,460 in 2018. Its accumulated profits amounted to €2.27m and its cash increased to €719,853.
