Zaha Hadid pre-recession profits soar
Pre-recession profits soared at Zaha Hadid Architects, according to accounts filed at Companies House in March
In the 12 months to April 2008, turnover doubled to £26.2 million while pre-tax profits increased fivefold from £1 million to £5 million.
The majority of the firm’s income came from its overseas work with 73 per cent of its turnover (£19.2 million) from outside the UK. Its proportion of UK, however, work rose from 16 per cent (£2.2 million) to 27 per cent (£11.4 million).
The news comes as the company announced it is laying off staff in response to the deepening recession. While not specifying the number affected, a spokesman for the company announced the firm will be reducing staff numbers by a ‘small amount’, particularly the number of architectural assistants it employs in order to ‘rebalance the composition of its staff’.