Space Solutions has reported “one of our most significant” periods of growth since it was launched 25 years ago.
The Aberdeen-based workplace design and management consultancy, also highlighted opportunities for new business in the north-east from an “improved” oil and gas sector.
But decision-making in the wider marketplace “remains slow”, it said.
The company added: “Like many businesses, we would welcome a period of economic and political stability which would be in stark contrast to the last three years.
“The pressures of Brexit, war in Ukraine and the energy crisis all fuel uncertainty and delay decision-making.”
The comments came in the firm’s latest annual accounts, showing a 42% increase in turnover to £43.3 million during the year to June 30.
Pre-tax profits came to just over £1.6m in the latest period, compared with around £361,000 a year earlier. Operating profits surged by more than four times to £1.65m.
Despite the impact of the global pandemic and the current economic climate, the figures confirm the strength and resilience of our business.”
Jim Mathieson, group managing director, Space Solutions.
Space Solutions told The Press and Journal it had secured “significant” project wins over the past year.
And the “strong” results had allowed the business to invest in its future by appointing 10 apprentices and graduates.
The Aberdeen team provided executive architect services with design development to transform Aberdeen's sports facility Get Active @ Northfield, which is now one of @Sportaberdeen's best health and wellbeing facilities in the city.
Read more: https://t.co/maEiDT4YvX #aberdeen pic.twitter.com/Oi4FpoN8Df
— SPACE (@space_solutions) November 17, 2022
Group managing director Jim Mathieson, said: “2022 has been one of our most significant years of growth since the business began 25 years ago.
“Despite the impact of the global pandemic and the current economic climate, the figures confirm the strength and resilience of our business.
“It’s clear that workplaces are changing to meet the needs of employees and sustainability targets, and that evolution is reflected in different workspaces being created by our expert teams.”
Ongoing investment
He added: “The increase in turnover has enabled us to continue reinvesting in teams across the business, and I am incredibly proud to see the dedication and hard work of our company’s employees reflected in an excellent set of results.”
Finance and support services director Teresa Thomson said: “This significant profit increase comes as a result of a successful year of new contract wins on the back of our robust business processes.
“We are now forecasting similar buoyant figures as we look ahead into next year.”
Pan-Scotland
Space Solutions employs nearly 200 people across offices in Aberdeen, Dundee, Edinburgh, Glasgow and Livingston.
Highlights for the firm during the past year include additional placements for 26 public sector frameworks, while Space also completes work for a string of high-profile clients.
Space Solutions’ team of experts work across three divisions: consultancy and design; design and build; and facilities management.
The firm was founded in 1997 as part of Aberdeen-based Chess Group and acquired by its management team 10 years later for an undisclosed sum.
In 2017 the business beefed up its central belt presence by acquiring Glasgow company haa design.
Founder Steve Judge – now the group’s chairman – said the “strategic move” was part of Space Solutions’ ambition of making the business less Aberdeen-focused amid challenging times for the north-east economy.
Conversation