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New share scheme welcomes fee earners

21-Jun-2010

International asset management consultancy Currie & Brown has welcomed more than 100 employee-shareholders during the first year of a new incentive scheme which is intended to help build the business.

At the publication of its financial results for the year to September 30, 2009 the company disclosed that more than 100 employees had joined the new scheme.

The company recorded an operating profit of £4.04m on increased turnover of £73.5m, and continued to build its international activities, which now account for 65 per cent of its income. Total sales increased by seven per cent.

Key customers and projects during the year included Aldar, Alstom, EDF Energy, Kajima Corporation, Merck, and Mumbai International Airport.

“The results bear out our long-standing strategy of diversifying the geographical spread of our business, whilst concentrating on key market sectors including commercial, public, energy and infrastructure in key markets including the UK, Americas, Middle East, India and Japan,” commented Group chief executive Euan McEwan.

“The financial performance is gratifying, given the generally difficult economic circumstances facing every major market. We remain very cautious about the markets during 2010-11, as it is quite clear that the current period of austerity will continue, and possibly worsen in some areas, during the year ahead.”

The new shareholding structure of Currie & Brown came about as a result of the major re-structuring completed in 2008. “We have rewarded our leading fee earners, and we retain a pot of shares which we can offer to staff who are being promoted and key personnel recruits. This makes Currie & Brown extremely competitive in the labour market at a time when new business development is of prime importance,” added Mr McEwan.

Since the year-end, Currie & Brown has disposed of its minority share in its Australian business, which was sold to AMEC’s energy consulting group in January 2010.

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