Urban Vision’s turnover falls 18% to £30m
SALFORD-based planning and architecture practice Urban Vision witnessed its turnover drop by 18% last year to £30m, new company accounts reveal.
The drop in sales has also resulted in the organisation making a pre-tax loss of £548,543 compared to a pre-tax profit of £1,797,505 in 2008.
Urban Vision was formed through a joint venture between Salford City Council, outsourcing giant Capita Symonds and Morrison Highways Maintenance – now part of the Galliford Try group – in February 2005.
Capita Symonds has a controlling stake in Urban Vision while Salford Council has a 19.9% stake and Morrison Highways Maintenance has 30%.
It has since specialised in property development and regeneration services – from pre-application planning advice through to comprehensive project management and scheme delivery.
The directors’ report and financial statements for the year ended December 31, 2009, show that its gross profit after cost of sales fell to £8.1m from £8.5m last time.
But over the same period, the cost of its administrative expenses rose by almost £2m to £8.69m from £6.73m last time which has resulted in the pre-tax loss.
At the end of 2009, Urban Vision had £3.7m worth of ‘work in progress’ compared to £4m at the end of 2008.
