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Mon October 26 2020

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Arup employees share £19m dividend

21 Dec 10 Employee-owned consulting engineer Arup Group saw profits dive 70% to £23m in the year to 31 March 2010, from £77m the year before. Turnover was identical to the previous year at £889m.

Some £19m of the profit was paid to employees through a global profit sharing scheme. With 10,000 employees around the world, including 4,000 in the UK, that works out at less than £2,000 a head.

Arup said that profitability was impacted by a range of factors, including market conditions and currency fluctuations, but turnover was maintained thanks to the practice’s global diversity.

Chairman Philip Dilley said: “During the last year we have benefited from the group’s multi-disciplinary capability that, combined with global reach, has enabled us to continue to win and deliver high quality projects around the world. Creative design solutions remain at the heart of Arup, and we are successfully applying this approach across an increasingly broad range of services.”

The balance sheet remains strong, with cash reserves of more than £100m. During the year, the group took advantage of market conditions to acquire the freehold of its main office in London’s Fitzrovia district, reducing future rent commitments.

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