Turnover and profit hike for Zaha Hadid
Profits and revenue have boomed for Zaha Hadid as her studio continues to win the lion’s share of its work in the Asia Pacific region
Zaha Hadid Holdings’ accounts for the year to 30 April 2013 reported a 7 per cent increase in turnover from £34.5 million to £36.9 million.
Gross profits in the period also increase 20 per cent from £10.6 to £12.6 following an ‘increased focus on project profitability through resource planning’ – according to the document. Average headcount meanwhile increased 16 per cent to 354 from 304.
Asia Pacific accounted for the largest share of the business during the year with £13.2 million of revenues drawn from the booming region. Turnover from North Africa, USA and Rest of the world also shot up from £490,000 to £4.2 million in the period.
UK income however tumbled 63 per cent from £4 million to £1.5 million and European revenues also dipped 6 per cent from £9.1 million to £8.6 million.
The report said: ‘Throughout the period [Zaha Hadid Group] has achieved significant success in established and developing markets and completed seminal projects that demonstrate the practice’s commitment to the highest standards of design and innovation.’
Key projects completed in the period included the Lubetkin Prize-shortlisted Galaxy Soho in Beijing, the RIBA European Award-winning Pierresvives Library and Archive in Montpellier and the Eli and Edythe Broad Art Museum at Michigan State University.
The report continued: ‘Asia-Pacific markets remain strong and offer [Zaha Hadid Group] the unique opportunity to demonstrate its experience and commitment to the region. We are also encouraged by significant return to growth in the UAE and the continued strength through the GCC.
‘ZHG is expanding its present in key North and South American markets with new projects across the western hemisphere.’
The period also saw the launch of the Zaha Hadid Design Gallery – a new space in Clerkenwell showcasing on the high-profile architect’s product and furniture collections.
Zaha Hadid Holdings’ director, Zaha Hadid, was not paid a dividend for the year to 30 April 2013 but received £500,000 from the outfit the previous year.
The businesses only charitable donation in the period was £3,950 paid to allow 20 staff members to compete in the Royal Parks Foundation’s annual Hyde Park half-marathon.