Belfast fit-out firm Portview's profits soar by £1m due to projects for big-name retailers
A Belfast fit-out firm that has worked with top names including Harvey Nichols and Fortnum & Mason has posted a £1m rise in pre-tax profits.
Portview Fitout Ltd's latest accounts showed pre-tax profit for the year ending November 30, 2016, was up by almost £1m, from just over £2.2m to £3.2m.
Despite the increase in profits, sales were down by £742,000 on the previous 12 months, dropping from £40.3m in 2015 to £38.2m.
Managing director Simon Campbell told this newspaper: "Around 40% of that increase (in profits) was down to the disposal of some property.
"The rest is due to an increase in margin.
"Our business model is to improve the quality and size of the projects we are working on.
"Having the right mix of clients has meant we have seen profits go up."
The majority of the firm's orders were made in the UK, however, sales to the rest of Europe accounted for almost 6%, or just under £2.2m of turnover- up from 2% the year before.
However, Mr Campbell said there had been no intentional push outside the UK.
He added that repeat business and referrals were also important to the business, with 83% of orders coming this way.
"This year we have carried out some work in Paris," Mr Campbell explained.
"If a retailer has worked with us before and decides to open a flagship shop elsewhere, a lot of the time they will want to work with the same team who they have been happy working with before."
The firm's strategic report stated that the performance had "remained consistent" with the previous year, adding that the directors were "satisfied" with the results.
Portview, which was established in Belfast 1975, is a fit-out specialist that works with the UK's leading brands in the retail, leisure and office sectors.
The company has 81 employees - up from 77 in 2015 - with plans to continue to grow its workforce this year as it continues to take on more orders.
In 2016, Portview's major projects included conversion and re-fit work on the London Olympic Stadium. The company was also named one of Ireland's leading businesses in the Deloitte Best Managed Awards earlier this year.
The luxury fit-out specialist was just one of three companies here to be awarded platinum membership.
In addition to Harvey Nichols and Fortnum & Mason, Portview Fitout has carried out work for some of the biggest names in high-end retail, including Selfridges and Oscar de la Renta.