David Chipperfield Architects has turned around its business and posted a huge hike in both turnover and profits
The company recovered from an £18,000 loss in the year ending December 2014 to registering a £462,233 profit after tax in its latest company accounts.
According to the practice’s report and financial statement for the year ended 31 December 2015, the London, Milan, Shanghai and Berlin-based outfit increased its turnover by 12.6 per cent from £7,192,406 to £8,101,920.
Staff numbers also bounced back following a ‘transitional year’ with the workforce expanding from 75 to 82. The practice said it expected ‘the 2016 number to also show a comparable trend’ and added that ‘the order book remained strong into [this year] and beyond’.
The report said: ‘Turnover, profit and cash position are all significantly better than 2014 and our performance against our key perfomance indicators is very satisfactory or ahead of expectations.
‘The split of work across the world reflects a stable project base in the UK, with the US rising signifcantly. All other areas remain steady but currently only constitute 8.35 per cent of our turnover (7.3 per cent in 2014).’
The company’s five directors, who include David Chipperfield, shared £569,305 between them, with Chipperfield taking home a director’s dividend of £40,000.
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